Wall Street slipped on Wednesday, with Netflix’s weak profit weighing on sentiment as investors monitored a flood of corporate earnings to get clarity in a high-stakes reporting season.

Shares of Netflix dropped 7.8% on Wednesday after the streaming giant’s fourth-quarter revenue outlook failed to excite investors.

At 09:39 a.m., the Dow Jones Industrial Average fell 59.20 points, or 0.13%, to 46,865.54, the S&P 500 lost 0.67 points, or 0.01%, to 6,734.68 and the Nasdaq Composite lost 48.89 points, or 0.21%, to 22,904.77.

Texas Instruments lost 7.7% after lower-than-expected revenue and profit forecasts from the chipmaker.

Peers Microchip Technology, ON Semiconductor lost and Analog Devices dropped between 2.3% and 4.5%. The Philadelphia Semiconductor Index was down almost 1% after hit

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