Wall Street falls on chip and oil stock declines
The US stock indices declined across the board, with shares of semiconductor companies falling. The S&P 500 decreased by 1.45% to 7,364.37 points, and Nasdaq dropped by 2.21% to 25,587.84 points, amid expectations of tighter monetary policy from the Federal Reserve. In the oil market, prices fell by about 1%, as traders monitored flows through the Hormuz Strait and the potential progress in negotiations between the United States and Iran, with Brent crude hitting its lowest level in four months.
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