US: Wall Street falls as megacap tech, chip stocks lead sell-off

WALL Street tumbled at the open on Wednesday (Jul 17), with the Nasdaq slumping over 1 per cent as declines in major chip and tech stocks led broad-based losses amid a bevy of corporate results and the prospect of fresh US trade curbs on Chinese chips.

The Dow Jones Industrial Average fell 91.91 points, or 0.22 per cent, at the open to 40,862.57.

The S&P 500 opened lower by 57.13 points, or 1.01 per cent, at 5,610.07, while the Nasdaq Composite dropped 321.15 points, or 1.74 per cent, to 18,188.19 at the opening bell.