The three major U.S. stock indices opened lower; chip stocks, after several days of continuous gains, face a broad decline.

Golden Finance reports that on May 12th, the Dow Jones Industrial Average fell 0.04%, the S&P 500 declined 0.35%, and the Nasdaq Composite dropped 0.73%. Chip stocks mostly declined, with Micron Technology down 3%, AMD down 2%, Intel down 4%, and Qualcomm down 4%. Under Armour’s stock price dropped 15%, with the company’s revenue for fiscal year 2026 decreasing 4% year-over-year to $5 billion.

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