Stocks slip again on tech slump

NEW YORK — Technology companies suffered another day of sharp losses Thursday, and emerging markets slid on trade fears, although the broader U.S. market didn’t fare as badly.

Chipmakers sank after an executive from KLA-Tencor said business in the fourth quarter looks weaker than the company expected. Apple also fell, and social media companies continued to sink after Congressional hearings weighed on the stocks the day before.

“They have a target on their back,” said Karyn Cavanaugh, senior markets strategist at Voya Investment Management.

The S&P 500 index shed 10.55 points, or 0.4 percent, to 2,878.05. The Nasdaq composite fell 72.45 points, or 0.9 percent, to 7,922.73. The Russell 2000 index of smaller-company stocks declined 13.18 points, or 0.8 percent, to 1,714.47.