(CNBC) U.S. stocks traded lower on Thursday after a major Asian chipmaker delivered a disappointing forecast which dragged the technology sector lower. Investors also fretted over rising interest rates.
The Dow Jones industrial average fell 63 points, with Apple among the worst-performing stocks in the index. The S&P 500 declined 0.5 percent with technology and consumer staples falling 1 percent and 3.1 percent, respectively. The Nasdaq composite dropped 0.7 percent.
The major indexes pared losses in the last hour of trading after Bloomberg News reported that Deputy Attorney General Rod Rosenstein told President Donald Trump last week he is not the target of an investigation by special counsel Robert Mueller. Trump has told associates he no longer wants to fire Rosenstein now, the report said. Earlier this month, The Washington Post reported earlier this month that Mueller told Trump’s lawyers that Trump himself was not a criminal target