Chip and policy pressure erase QQQ's 1.06% opening gain, leaving SPY ahead by 0.43 points

QQQ opened 1.06% higher but finished 0.44% lower. SPY opened up 0.77% and ended essentially flat, outperforming QQQ by 0.43 percentage points. China chip-equipment and memory developments, U.S. capital-goods data, Nvidia financing, Fed commentary, and Iran shipping risk provided the day's main context. The steepest measured declines followed the 09:41 ET China DUV report and the 09:46 ET core capital-goods update, while later headlines produced mixed, generally smaller moves.