US stocks opens lower after bank earnings; chips weigh

The S&P 500 and the Nasdaq opened lower on Tuesday as chip stocks came under selling pressure again, while investors assessed a mixed set of quarterly results, including reports from banks.

The decline was led by semiconductor stocks, which have been hit by concerns about slowing demand and weak earnings guidance from some companies in the sector.

Investors are also awaiting key economic data, including the US consumer price index (CPI) and retail sales figures, which could provide insights into the health of the US economy.