Nasdaq dips as chipmakers slide; S&P 500 treads water with Fed in focus

March 19 - The tech-laden Nasdaq dipped on Tuesday with chip stocks falling to more than two-week lows, while the benchmark S&P 500 was subdued as focus turned to the Federal Reserve's policy meeting.

Fellow chipmakers such as Advanced Micro Devices , opens new tab, Marvell Technology , opens new tab and Intel , opens new tab shed between 2.3% and 6.1%, while the Philadelphia Semiconductor index , opens new tab dipped 2.1% to its lowest since Feb. 29. At 11:35 a.m. ET, the Dow Jones Industrial Average , opens new tab was up 203.55 points, or 0.52%, at 38,993.98, the S&P 500 , opens new tab was up 2.21 points, or 0.04%, at 5,151.63, and the Nasdaq Composite , opens new tab was down 42.25 points, or 0.26%, at 16,061.19.

All three major stock indexes finished higher in the previous session, with the Nasdaq bouncing back from two successive small weekly losses as growth stocks such as Alphabet , opens new tab and Tesla boosted the tech-heavy index. Among other movers, crypto-exchange operator Coinbase Global , opens new tab and miners Riot Platforms , opens new tab and Marathon Digital Holdings , opens new tab shed between 4.8% and 6.5%, tracking the sharp slide in bitcoin.

Advancing issues outnumbered decliners by a 1.50-to-1 ratio on the NYSE and by a 1.28-to-1 ratio on the Nasdaq.

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