US: Chipmakers drag Wall St lower after Micron's warning

WALL Street’s main indexes slipped at the open on Tuesday(Aug 9) as a dismal forecast from Micron Technology dragged chip stocks lower, while investors remained cautious ahead of inflation data that will feed into the US Federal Reserve’s rate-hike plans.

The Dow Jones Industrial Average fell 25.18 points, or 0.08 per cent, at the open to 32,807.36.

The S&P 500 opened lower by 6.95 points, or 0.17 per cent, at 4,133.11, while the Nasdaq Composite dropped 86.97 points, or 0.69 per cent, to 12,557.49 at the opening bell. REUTERS