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Wall St slips on higher yields, fall in chipmaker stocks

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NEW YORK, Oct 17 - U.S. stocks were slightly lower in afternoon trading on Tuesday as Treasury yields rose and shares of chipmakers fell after the Biden administration said it planned to halt shipments of advanced artificial intelligence chips to China.

Helping to limit the declines, though, were upbeat earnings reports from companies including Bank of America, whose stock was up 2.3% following its quarterly results. Investors also are still anxiously watching news on the Middle East. U.S. President Joe Biden is set to visit Israel on Wednesday, after Washington said Prime Minister Benjamin Netanyahu had agreed to allow humanitarian aid to reach Gazans.

 

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