Stock Market Update

[BRIEFING.COM] The S&P 500 (-0.3%), Nasdaq Composite (-0.6%), and DJIA (-0.3%) sit a touch off their session lows after steadily moving lower over the past half hour. 

The information technology sector (-0.4%) has widened its loss today, facing pressure in its chipmaker components after Texas Instruments (TXN 170.62, -10.22, -5.65%) missed EPS expectations for the first time in two years and issued below-consensus EPS guidance for Q4. Management said the semiconductor recovery continues but at a slower pace than prior cycles, as customers remain cautious amid macro and tariff uncertainty.

The PHLX Smeiconductor Index is down 2.5% today as a number of chipmaker stocks trade lower in sympathy. 

Elsewhere in the sector, Apple (AAPL 260.47, -2.30, -0.88%) sees some profit-taking after its recent run to record highs.