, the largest semiconductor ETF. According to preliminary data, the S&P 500 lost 31.59 points, or 0.53%, to end at 5,889.95 points, while the
Nasdaq Composite lost 91.27 points, or 0.47%, to 19,107.89. The
Dow Jones Industrial Average fell 237.24 points, or 0.56%, to 42,106.41.
Shares of Cadence Design Systems and Synopsys were down sharply after the Financial Times reported that the Trump administration has ordered U.S. firms that offer software used to design semiconductors to stop selling their services to Chinese groups. The FT report cited people familiar with the move.
According to the minutes of the Fed's May 6-7 session, U.S. central bank officials acknowledged they could face "difficult tradeoffs" in coming months in the form of rising inflation alongside rising unemployment.
The S&P 500 is still down from its record closing high, reached on February 19. It fell as much as 18.9% below that level in the wake of Trump's erratic tariff announcements that have whipsawed markets for much of his second term.
A poll of strategists and analysts conducted by Reuters showed that many market participants expected the benchmark index to finish the year near current levels.
Shares of sportswear retailer Dick's Sporting Goods gained after its first-quarter results beat estimates.
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