- US stocks fell on Friday as investors fret about a potential slowdown in the semiconductor space.
- Reuters reported that Taiwan Semiconductor told its suppliers to delay some order shipments.
- Investors are also turning their attention to the Federal Reserve's meeting next week.
US stocks fell on Friday as investors grew concerned about a potential slowdown in the semiconductor space.
Technology stocks led the decline after Reuters reported that $4 amid concerns of a slowdown in the space. The iShares Semiconductor ETF sold off by more than 3% on Friday.
The $4 Detroit's top automakers. It represents the first time in history that employees at the Big 3 — $4, $4, and $4 — went on strike at the same time. Nearly 13,000 autoworkers are striking for increased pay amid the transition from gasoline-powered cars to electric vehicles.
Investors are now turning their attention to the Federal Reserve's meeting next week. Markets currently expect the Fed to hold interest rates steady as inflation shows signs of cooling down.
Here's where US indexes stood at the 4:00 p.m. closing bell on Friday:
- S&P 500>$4: 4,450.32, down 1.22%
- Dow Jones Industrial Average>$4: 34,618.24, down 0.83% (288.87 points)
- Nasdaq Composite>$4: 13,708.33, down 1.56%
Here's what else happened today:
- $4 as the Fed's war on inflation pushes more companies into financial distress.
- Billionaire hedge-fund manager $4 adding that he's "a bit anxious" about this year's strong gains.
- Short-seller $4 saying the stock is "ridiculously overvalued."
- $4 as Beijing battles to shore up the country's crisis-hit property sector.
- $4 edging out oil products, according to a note from Bloomberg Economics.
- $4 the highest rate since last October, as mortgage rates stay above 7%, Redfin reported.
In commodities, bonds, and crypto: