S&P 500 falls as chip stocks weigh on market again: Live updates

The S&P 500 dropped 0.51% on Thursday to close at 7,533.77, dragged down by semiconductor stocks despite a wave of solid corporate earnings. The Nasdaq Composite bore the brunt of the tech sell-off, sliding 1.47% as chip stocks accelerated their recent decline.

The divergence between chipmakers and broader earnings strength underscores a sector-specific rotation out of semiconductors, even as fundamental data from other industries remains supportive. The S&P 500's ability to limit losses to roughly half a percent—despite the Nasdaq's nearly 1.5% drop—suggests defensive positioning into non-tech cyclicals andvalue names absorbed some of the selling pressure.

Thursday's move extends the pattern of semiconductor weakness that has pressured major indexes in recent sessions, with the tech-heavy Nasdaq continuing to underperform the broader market. The SPX close at 7,533.77 marks a technical level worth monitoring for support as chip volatility persists.