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Wall St tumbles before Fed verdict, chip stocks wobble
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PerthNow
AI-related chipmakers added to recent losses after a sixfold jump in SK Hynix's quarterly profit fell short of lofty investor expectations.
The S&P 500 declined 1.52 per cent to end the session at 7,316.15 points.
Visa rose 0.6 per cent after the company beat estimates for quarterly profit, helped by World Cup-fueled travel demand.
Declining stocks outnumbered rising ones within the S&P 500 by a 1.8-to-one ratio.
The S&P 500 posted 32 new highs and four new lows; the Nasdaq recorded 121 new highs and 230 new lows.