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The Economic Times
The Economic Times
Business

US stocks: Nasdaq ends down as chipmakers fall and bank earnings roll in

Nasdaq Stock Market S&P 500 United States Citigroup Semiconductor Goldman Sachs Broadcom Corporate Earnings

The Nasdaq ended lower on Tuesday, as chip stocks added to recent losses and investors parsed mixed quarterly results from Citigroup and other big US banks.

The PHLX chip index fell for a fifth straight session, after Broadcom CEO Hock ‌Tan on Monday likened some of the investment flow into the sector to "casino gambling." Additionally, reports of technological advances by Chinese memory chip company CXMT underscored concerns about rising competition.

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