Nasdaq Falls 1%. The Chip Selloff Is Back.

Chip stocks kept sliding Friday morning. The Nasdaq dropped 1.1% at the open. The S&P 500 fell 0.7%. The Dow dropped 176 points, or 0.3%. “After a strong start and intraday sell-off yesterday, futures have equities in the penalty box to start the last session of the week, so we’ll see if bulls can make a stand into the weekend,” Bespoke Investment Group’s Paul Hickey writes.