Wall Street: Nasdaq, S&P 500 slip as chip stocks decline

US markets slipped on Tuesday as chip stocks declined, with investors questioning the momentum of the AI-led rally. The S&P 500 fell 0.28 percent to 7,516.63, while the Nasdaq Composite dropped 0.62 percent to 25,960.13. The Dow Jones Industrial Average was marginally up 0.09 percent at 53,104.06.