Wall Street and Australian markets declined, S&P 500 and Nasdaq closed lower after reaching record highs, Australian S&P/ASX 200 dropped 1.36%, and chip stocks lost value.

Wall Street and Australian markets declined, with the S&P 500 and Nasdaq closing lower after reaching record highs, while the S&P/ASX 200 Index fell 1.36% to 7740. High-performing chip stocks, including Nvidia, Broadcom, and Marvell Technology, faced losses. The Australian share market is predicted to decline, with futures pointing to a 0.6% fall at market opening. A mixed labor market report showed more new jobs but a rising unemployment rate.