[Nasdaq closes down over 1%, Philadelphia Semiconductor Index falls over 3%] The three major U.S. stock indexes initially rose but then retreated. At the close, the Nasdaq fell 1.07%, the Dow Jones Industrial Average rose 0.42%, and the S&P 500 fell 0.5%. Chip stocks generally declined, with the Philadelphia Semiconductor Index falling 3.37%, Cerebras falling 11.7%, Intel falling nearly 9%, Western Digital, AMD, and Seagate Technology falling over 7%, and SanDisk falling over 6%.