US stocks close lower; chipmakers slide on China competition, bank earnings in focus

US equities ended slightly lower in a quiet session as investors weighed the first bank earnings and a sharp drop in memory chip stocks, driven by concerns over Chinese competition. The Dow fell 0.35%, the S&P 500 was flat, and the Nasdaq declined, reflecting sector-specific pressure rather than broad risk-off. The development signals ongoing tech-sector vulnerability to China's semiconductor push, while bank results are being digested for credit and margin trends.