Stocks Decline as Chipmakers Retreat

The S&P 500 Index ($SPX) (SPY) is down by -0.13% today, the Dow Jones Industrial Average ($DOWI) (DIA) is down by -0.12%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.59%. December E-mini S&P futures (ESZ26) are down -0.19%, and December E-mini Nasdaq futures (NQZ26) are down -0.63%.

Stock indexes are under pressure today, with the Nasdaq 100 falling to a 1.5-week low. Weakness in chipmakers is driving the broader market lower amid concerns that investment in artificial intelligence may be unsustainable due to safety concerns and signs of funding strain. Also, a selloff in South Korea’s Samsung Electronics and SK Hynix knocked South Korea’s Kospi Index down more than -5% today to a 2.5-month low amid concerns over intensifying competition from China, adding additional pressure to chip stocks.