Business
Fed Fears Overpower Chip Jump, Sending Stock Market Lower
Stocks slipped on Friday, as worries mounted that the Federal Reserve will hike rates later this month.
Chip stocks were a bright spot with the PHLX Semiconductor Index rising 3.4%, but it wasn’t enough to offset broader market weakness.
The S&P 500 dropped 0.4% and the Nasdaq fell 0.3%. The Dow Jones Industrial Average lost 0.5%, or 272 points.
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