Stock indexes are down today, with the S&P 500, Dow Jones, and Nasdaq all in the red. Chip makers are weighing on the market, with Intel leading the decline after a lackluster forecast. Precious metals are surging to record highs due to a weaker dollar and geopolitical risks. Crude oil prices jumped over 3% on reports of potential US actions against Iraqi oil sales. President Trump is refraining from tariffs on European goods over Greenland. Earnings season is off to a positive start, with 81% of S&P 500 companies beating expectations. The market is focused on economic news, tariffs, Fed Chair appointment, and Greenland. Overseas markets are mixed. T-notes are lower, influenced by rising oil prices and potential Fed Chair candidates. European government bond yields are also rising. Various PMI data from Eurozone and the UK show improvements. US stock movers include chip makers down over 3%, energy producers up over 3%, and various upgrades/downgrades affecting other stocks. Earnings reports from companies like Booz Allen Hamilton Holding, SLB Ltd, and Darden Restaurants are on the horizon.

Read more at Barchart: Stocks Pressured by Weakness in Chip Makers