US stocks edge lower as chip stocks slip after Samsung warning
U.S. stocks closed lower Tuesday, dragged by a 4.4% slide in the PHLX semiconductor index that weighed on both the S&P 500 and Nasdaq. Most S&P 500 sectors actually rose, and advancers outpaced decliners by 1.4-to-1 within the benchmark index. The session had the feel of a rotation out of AI names rather than a broad drop for equities. Samsung Electronics said it expects second-quarter sales around 171 trillion won and operating profit near 89.4 trillion won. Even with those big numbers, chip buyers didn’t stick around. Micron Technology lost more than 5% and SanDisk slid almost 8%.