Stocks opened lower Friday, on pace to log weekly declines, as chip makers fell following disappointing earnings reports from Nvidia Corp. and other semiconductor companies (http://www.marketwatch.com/story/chip-stocks-set-to-tumble-after-nvidia-amd-and-applied-materials-pace-losers-2018-11-16). The tech-heavy Nasdaq Composite declined 1.1% to 7,181, while the Dow Jones Industrial Average shed 113 points, or 0.4%, and the S&P 500 lost 0.6%. Shares of Nvidia were off 19.5% in early action, while the PHLX Semiconductor Index dropped 2.6%. For the week, the S&P 500 was on track for a 2.4% fall, while the Dow and Nasdaq were headed for declines of more than 3%.
-William L. Watts; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
November 16, 2018 16:26 ET (21:26 GMT)
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