SNAPSHOT Chipmakers drag Wall St lower after Micron’s warning

Traders work on the trading floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., August 8, 2022. REUTERS/Andrew Kelly

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Aug 9 (Reuters) – Wall Street’s main indexes slipped at the open on Tuesday as a dismal forecast from Micron Technology dragged chip stocks lower, while investors remained cautious ahead of inflation data that will feed into the U.S. Federal Reserve’s rate-hike plans.

The Dow Jones Industrial Average (.DJI) fell 25.18 points, or 0.08%, at the open to 32,807.36.

The S&P 500 (.SPX) opened lower by 6.95 points, or 0.17%, at 4,133.11, while the Nasdaq Composite (.IXIC) dropped 86.97 points, or 0.69%, to 12,557.49 at the opening bell.

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Reporting by Bansari Mayur Kamdar in Bengaluru; Editing by Arun Koyyur

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