Stock Market Update

[BRIEFING.COM] The major indices moved lower with many stocks extending losses.

Chipmakers are underperforming the broader market in front of earnings results from NVIDIA (NVDA 144.86, -2.15, -1.5%) after the close. The PHLX Semiconductor Index (SOX) shows a 1.7% decline with nearly every component trading lower.

This weakness has clipped the information technology sector, which trades 1.2% lower. Microsoft (MSFT 413.19, -4.63, -1.1%) and Apple (AAPL 226.02, -2.29, -1.0%) are also lower.