India, July 16 -- The US stock market traded lower on Thursday, with the Nasdaq Composite leading losses as semiconductor stocks and major technology companies came under pressure. Investors remained cautious amid broad-based selling in the chip sector, dragging the tech-heavy index lower despite mixed performance across other sectors.

At the latest update, the Nasdaq Composite (^IXIC) was trading at 26,065.43, down 203.79 points (-0.78%).

US Stock Market Today: Nasdaq Composite Slips

The Nasdaq Composite declined sharply during Thursday's trading session.

Latest Nasdaq Performance

The weakness reflects heavy selling across semiconductor companies and technology infrastructure stocks, sectors that have driven much of the market's ral...