US stocks ended lower Friday as chipmakers gave back part of their recent gains and traders increased bets on a rate hike next month. The S&P 500 declined 0.2%, the Nasdaq dropped 0.7% and the Dow edged lower. Marvell sank 10.3% despite beating earnings estimates and raising its outlook, while Nvidia fell 4.6% after its strong results earlier in the week. Broadcom lost 0.7% and AMD slipped 2.3%. Hyperscalers (large cloud-computing companies) remained stronger, with Alphabet up 1.5%, Microsoft rising 1.7%, Amazon jumping 4% and Meta gaining 1.2%. Fed Chair Warsh said at the Jackson Hole Symposium that underlying inflation was not slowing and pledged to continue fighting price growth until it converges with the Fed’s 2% target, prompting traders to raise their expectations for a rate hike next month. Industrial and pharmaceutical stocks also declined, including AbbVie, which lost 1%, and Lam Research, which fell 5.2%.