Wall Street opened lower as technology stocks extended their decline, with Netflix falling 10% and chipmakers leading losses.
NEW YORK — Wall Street opened lower Friday as weakness in technology stocks weighed on the major indexes, while oil prices climbed sharply amid escalating tensions between the United States and Iran.
Shortly after the opening bell, the Dow Jones Industrial Average fell 0.09% to 52,503, while the S&P 500 declined 0.61% to 7,487. The tech-heavy Nasdaq Composite dropped 1.29% to 25,547.
Semiconductor stocks led the decline, with exchange-traded funds tracking the sector, including iShares Semiconductor ETF and VanEck Semiconductor ETF, falling about 2%. Shares of Intel and Nvidia each slipped roughly 1.5%.
Netflix was among the session’s biggest losers, tumbling 10% after issuing forward guidance that disappointed investors despite reporting its latest earnings.
Meanwhile, energy markets moved in the opposite direction.West Texas Intermediate (WTI) crude oil rose 3.17% to $81.45 per barrel after renewed U.S. and Iranian attacks on energy infrastructure intensified concerns over potential supply disruptions in the Middle East.
Elsewhere, gold edged 0.26% higher to $4,003 per ounce, while silver slipped 0.28%. The yield on the 10-year U.S. Treasury declined to 4.526%
