S&P 500 closes lower, Nasdaq falls more than 1% as chip stocks suffer: Live updates
The moves come after a decline in chipmakers dragged the broader market lower and the U.S. continued to strike Iran overnight.
AI Summary
Stock futures slipped Thursday evening after a weak session driven by a decline in chipmakers, with the Dow, S&P 500, and Nasdaq all heading for a losing week. Netflix shares tumbled more than 8% after its second-quarter results met expectations, while the VanEck Semiconductor ETF slid nearly 4% and Asia-Pacific markets opened lower Friday. Despite the recent turbulence, a Ned Davis Research strategist said the market's resilience suggests this is not a major bull peak and a recession remains unlikely.