SLUMP IN TECH: Chip maker Advanced Micro Devices fell sharply after reporting that a slowdown in China and Europe led to an 11 percent drop in second-quarter revenue. It had expected a 3 percent gain. That helped pull down other stocks, leading to fourth day of declines in the major indexes. The tech-heavy Nasdaq dropped the most, 1 percent, to end at 2,902.
OIL STOCKS HIT HARD: Benchmark crude oil fell $2 to $84 a barrel in New York. Major energy companies dropped as a result, including Occidental Petroleum, down $1.95 at $83.24, and ConocoPhillips, down 90 cents at $53.43.
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