Wall Street stocks fall early with chips down

WALL STREET STOCKS FALL EARLY WITH CHIPS DOWN

The three major U.S. stock indexes are lower in early trading on Tuesday, with the Nasdaq TVC:IXIC down 1.5% and chip stocks falling sharply.

An index of semiconductors NASDAQ:SOX is down more than 6.5%, while the S&P 500 technology sector SP:S5INFT is down more than 2.5%, and is leading sector decliners in the S&P 500 CBOE:SPX.

The weakness follows a drop in Samsung Electronics' KRX:005930 shares in South Korea despite the company reporting a jump in quarterly operating profit.

In other news in the semiconductor world, Reuters reported that Chinese startup DeepSeek is developing its own AI chip, a move that could reduce its dependence on Nvidia NASDAQ:NVDA and Huawei chips.

Nvidia shares are down 1.9%.

Here is the early market snapshot: