Chip Selloff Drags Markets, Snaps Dow Win Streak — SkimNews
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- S&P 500 closed near flat as big banks posted earnings and memory chip stocks declined.
- A chip selloff ended the Dow's three-day win streak and dragged down the broader market and Nasdaq.
Why it matters: Chip-sector weakness — specifically memory chips — is the day's dominant drag, overcoming a supportive catalyst from big-bank earnings season rolling in. Investors concentrated in chip names absorb the immediate hit while bank earnings failed to lift broader sentiment.
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