US stocks today: US stocks open lower as chip rout extends

US stock markets opened sharply lower, led by an extended sell-off in chip stocks. The Nasdaq Composite dropped 2.16 percent or 560 points, while the S&P 500 declined 1.31 percent and the Dow Jones fell 0.81 percent. The weakness in the technology and semiconductor space is likely to weigh on Indian IT and related stocks in upcoming sessions.