The S&P 500 Index ($SPX) (SPY) today is down -1.13%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.26%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -2.29%.
Stock indexes today are mixed, with the Dow Jones Industrials posting a new record high and the Nasdaq 100 falling to a 2-week low. Weakness in chip stocks is weighing on the broader market on concerns the US may adopt harsher restrictions on Chinese trade and semiconductor technology. Bloomberg reported today that the Biden administration has told allies it is considering using the most severe trade restrictions against chip makers if they continue giving China access to advanced semiconductor technology. Stocks maintained their losses as bond yields rose after US Jun housing starts and Jun manufacturing production rose more than expected.
