US: Nasdaq drops as Nvidia, chips drag; inflation data in focus

THE Nasdaq opened lower on Monday (Jun 24) after Nvidia and some other chip stocks remained under selling pressure, with investors on tenterhooks as a key inflation print this week is set to further shape bets over the timing and quantum of rate cuts this year.

The Dow Jones Industrial Average rose 34.16 points, or 0.09 per cent, at the open to 39,184.49.

The S&P 500 opened lower by 5.04 points, or 0.09 per cent, at 5,459.58, while the Nasdaq Composite dropped 49.10 points, or 0.28 per cent, to 17,640.26 at the opening bell. REUTERS