26.06.202620:09:32UTC+00US Stocks Dip as Chipmakers Retreat

US stock indexes finished lower on Friday, with the S&P 500 edging down 0.05%, the Nasdaq 100 falling 1.1%, and the Dow Jones Industrial Average slipping 44 points. Semiconductor stocks led the pullback as investors took profits following Thursday’s rally, which had been driven by upbeat guidance from Micron. Micron fell 6.7%, while peers Nvidia (-1.3%) and Broadcom (-3.7%) also retreated.

The Dow traded more in line with its tech-heavy peers after Alphabet (-1.3%) replaced Verizon in the index, though it still closed near record highs. Broader market losses were limited by a decline in oil prices, which helped ease inflation worries. Signs that tankers continued to transit the Strait of Hormuz improved the outlook for Middle Eastern energy supplies and tempered concerns about multiple Federal Reserve rate hikes this year.

Even so, risk appetite remained subdued after President Donald Trump accused Iran of violating the ceasefire by firing on cargo ships passing through the Strait, underscoring the fragility of the truce.