S&P 500 slips, Fed official puts July rate cut on his calendar

US equities were mostly lower, albeit modestly so, after a volatile week in which investors braced for escalation between Israel and Iran, and the signs of a split at the Federal Reserve over when to renew cutting interest rates. Part of the lacklustre trading on Friday (Saturday AET) reflected the pending expiration of $US6.5 trillion of options known as "triple witching". A closely watched gauge of chip shares slid after the Wall Street Journal reported the US may revoke waivers for allies with semiconductor plants in China, which could reignite trade tensions. Loading…