S&P 500, Nasdaq open lower as Iran tensions jolt sentiment, chip stocks slide

[NEW YORK] The S&P 500 and the Nasdaq opened lower on Monday (Jul 13), as a fresh escalation between the US and Iran in the Gulf pushed oil prices higher and unsettled investors, while chip stocks also came under pressure.

The Dow Jones Industrial Average rose 39.5 points, or 0.08 per cent, at the open to 52,676.53.

The S&P 500 fell 27.9 points, or 0.37 per cent, at the open to 7,547.53​, while the Nasdaq Composite dropped 193.3 points, or 0.74 per cent, to 26,088.313 at the opening bell. REUTERS