S&P 500 and Nasdaq open lower as Iran tensions jolt sentiment, chip stocks slide

The S&P 500 and the Nasdaq opened lower on Monday, as a fresh escalation between the U.S. and Iran in the Gulf pushed oil prices higher and unsettled investors, while chip stocks also came under pressure.

The Dow Jones Industrial Average .DJI rose 39.5 points, or 0.08%, at the open to 52676.53. The S&P 500 .SPX fell 27.9 points, or 0.37%, at the open to 7547.53, while the Nasdaq Composite .IXIC dropped 193.3 points, or 0.74%, to 26088.313 at the opening bell.