Wall Street ends lower as chip stocks slide and US

Wall Street ended lower yesterday as chipmaker stocks continued their recent slide, while renewed tensions between the United States and Iran heightened investor uncertainty. Among the major indices, The Nasdaq Composite Index plunged two per cent, the Dow Jones Industrial Average shed 1.9 per cent and the S&P 500 lost 1.6 per cent.
 
On the macroeconomic front, headline inflation accelerated to 4.2 per cent year-on-year in May, up from 3.8 per cent in April. Meanwhile, core inflation edged up to 2.9 per cent from 2.8 per cent over the same period.