Stock Market Update

[BRIEFING.COM] The S&P 500 (-1.1%), Nasdaq Composite (-1.6%), and DJIA (-0.6%) continue to tick steadily lower shortly after midday. 

The top-weighted information technology sector has widened its loss for the day to 2.1% as a majority of its components tick lower.  Reuters reports that Chinese companies have been told to stop using U.S. security software, a headline that has weighed on Broadcom (AVGO 337.07, -17.54, -4.95%) today.

A separate Reuters report said that China's customs agents have been told that imports of NVIDIA's (NVDA 182.10, -3.71, -2.00%) H200 chips are not permitted.

The PHLX Semiconductor Index is down 1.5% today, though its loss is narrower than that of the broader sector.