NEW YORK, June 14 (Xinhua) -- U.S. stocks traded on a downbeat note Friday as chip shares dragged tech sector lower, weighing on the market.
At midday, the Dow Jones Industrial Average fell 31.35 points, or 0.12 percent, to 26,075.42. The S&P 500 was down 6.50 points, or 0.22 percent, to 2,885.14. The Nasdaq Composite Index decreased 39.31 points, or 0.50 percent, to 7,797.82.
Shares of Broadcom plunged 6.4 percent in midday trading after the U.S. chipmaker reported lackluster quarterly results.
Other chip stocks also struggled. Lam Research and Micron Technology declined 2.7 percent and 2.6 percent, respectively. Qualcomm slid about 1.9 percent.
VanEck Vectors Semiconductor ETF (SMH), which tracks the overall performances of major U.S. exchange-listed companies in the semiconductor industry, dropped 2.8 percent around midday.
Of the 11 primary S&P 500 sectors, technology dipped 0.91 percent, the worst-performing group.
On the economic front, the University of Michigan reported its consumer-sentiment index in June fell to 97.9 from 100 in May. The reading missed the analysts' expectations of 99 polled by MarketWatch. Enditem
