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Rich Asplund

Stock Indexes Finish Lower as Chipmakers Sell Off

Nasdaq SP United States University of Michigan Dow Jones Industrial Average ECB Inflation Okta The European Medicines Agency

The S&P 500 Index ($SPX) (SPY) on Friday closed down -0.05%, the Dow Jones Industrial Average ($DOWI) (DIA) closed down -0.09%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -1.09%. September E-mini S&P futures (ESU26) fell -0.12%, and September E-mini Nasdaq futures (NQU26) fell -1.19%.

Stock indexes settled lower on Friday, with the S&P 500 and Nasdaq 100 falling to 2-week lows. The weakness in chipmakers weighed on the overall market Friday. South Korea's Kospi Index fell by more than -5% on Friday after Samsung Electronics and SK Hynix sold off, sparking a global decline in chipmakers. Stocks also came under pressure on Friday after a New York Times report said ChatGPT owner OpenAI may delay its initial public offering until 2027.

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