U.S. stocks closed lower after a slide in chipmakers weighed on the broader market, with the Nasdaq falling more than 1%, according to CNBC.
Key facts
- The S&P 500 closed lower, according to CNBC.
- The Nasdaq fell more than 1%, according to CNBC.
- A decline in chipmakers dragged the broader market lower, according to CNBC.
- CNBC reported the moves came as the U.S. continued to strike Iran overnight.
Major U.S. stock indexes finished the session lower, with the S&P 500 closing down and the Nasdaq Composite falling more than 1%, according to CNBC.
The declines were driven in large part by weakness among chipmakers, whose losses dragged the broader market down over the trading day, CNBC reported.
CNBC also reported that the market moves came as the U.S. continued to strike Iran overnight. Further details of those strikes were not provided in the report.
The extent of any additional factors behind the session’s moves was not detailed in the available reporting.
Why it matters
Chipmakers are heavily weighted in major indexes, so their declines can influence the broader market and affect investment and retirement portfolios. According to CNBC, geopolitical developments also formed part of the backdrop to the session.
Frequently asked questions
How much did the Nasdaq fall?
According to CNBC, the Nasdaq fell more than 1% during the session.
What caused the market to decline?
CNBC reported that a decline in chipmakers dragged the broader market lower.
Was there a geopolitical factor?
CNBC noted the moves came as the U.S. continued to strike Iran overnight.