Wall Street ends lower as chip weakness offsets solid earnings, economic data

Wall Street concluded Thursday's session lower as weakness in chip stocks pulled down the Nasdaq and S P 500. These semiconductor equities continued to drive broader market movements despite the presence of generally upbeat U.S. economic data. Additionally, the market decline occurred even as the second-quarter earnings season got off to a strong start, but the negative pressure from the chip sector ultimately offset these positive financial reports and economic indicators in New York.