Wall Street closes down as tech stocks fall
Nvidia fell 2.5% after China's market regulator launched an investigation into the chipmaker over suspected violation of antimonopoly law, dragging the information technology sector down 0.45%.
Advanced Micro Devices slipped 5.7% after BofA Global Research downgraded its rating on the stock, weighing on the Philadelphia Semiconductor Index, which slipped 0.87%.
«The market was taken a bit by surprise regarding China's investigating (Nvidia) as a possible antimonopoly-law violation. So that's one thing that's putting a little damper on the market,» said Sam Stovall, chief investment strategist at CFRA Research in New York.
The Dow Jones Industrial Average fell 240.59 points, or 0.54%, to 44,401.93, the S&P 500 lost 37.42 points, or 0.61%, to 6,052.85 and the Nasdaq Composite lost 123.08 points, or 0.62%, to 19,736.69.
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