(Reuters) – The New York Stock Exchange opened slightly lower on Friday, with declines in chipmakers weighing on indices despite hopes for a pause in rate hikes from the Federal Reserve (Fed) next week.
In early trading, the Dow Jones index lost 52.65 points, or 0.15%, to 34,854.46 points and the broader Standard & Poor’s 500 fell 0.35% to 4,489.24 points.
The Nasdaq Composite lost 0.32%, or 44.87 points, to 13,881.19 points.
Wall Street, which rose Thursday on hopes of a pause in the Fed’s interest rate hikes next week, is suffering from the decline in semiconductors, which fell after Reuters reported that the Taiwanese group TSMC had requested to its main suppliers to delay the delivery of high-end chipmaking equipment.
The world’s top chipmaker is growing increasingly nervous about customer demand, two sources familiar with the matter said.
Applied Materials, Lam Research and KLA CORP dropped more than 2%.
On the macroeconomic front, investors took note before the opening of indicators on manufacturing activity in the New York region and industrial production, both of which came out above expectations. They are still waiting for the Michigan confidence index at 2:00 p.m. GMT.
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(Written by Diana Mandiá, edited by Blandine Hénault)
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