Stocks Are in the Red. Tech Leads the Way Down.

All three major indexes were in the red midday and tech stocks were leading the fall. The Nasdaq slipped 1.1% and the S&P 500 dropped 0.5%. The Dow also was lower, down 0.3% or 158 points. Chip stocks are the standout laggard of the day, with the PHLX Semiconductor index down 5%, extending yesterday's declines.