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(Reuters) - Wall Street slid on Thursday morning, weighed down by a broad-based slump in technology stocks from Apple to chipmakers as well as a tumble in consumer staples such as Procter & Gamble.

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Traders work on the floor of the New York Stock Exchange in the Manhattan borough of New York City, New York, U.S., April 19, 2018. REUTERS/Brendan McDermid

A warning from Taiwan Semiconductor (TSMC) (2330.TW), the world’s largest contract chipmaker and an Apple supplier, on soft demand for smartphones and on the semiconductor industry’s growth this year sparked a tumble in chip stocks.

TSMC’s (TSM.N) U.S.-listed shares fell 5.2 percent. Intel (INTC.O) declined 2.2 percent and Nvidia (NVDA.O) sank 1.7 percent.

Each of the stocks on the Philadelphia SE Semiconductor index .SOX was in the red, with the index down 2.7 percent.

Apple (AAPL.O) shares also fell 1.8 percent, with at least two analysts blaming the decline on TSMC’s warning. The stock was the biggest drag on the S&P 500 and the Nasdaq.

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Traders work on the floor of the New York Stock Exchange in the Manhattan borough of New York City, New York, U.S., April 19, 2018. REUTERS/Brendan McDermid

At 9:54 a.m. EDT the Dow Jones Industrial Average .DJI was down 92.72 points, or 0.37 percent, at 24,655.35, the S&P 500 .SPX was down 13.44 points, or 0.50 percent, at 2,695.20 and the Nasdaq Composite .IXIC was down 38.37 points, or 0.53 percent, at 7,256.87.

The consumer staples sector .SPLRCS declined 2.5 percent. The biggest drag was a 12.5 percent drop in Philip Morris (PM.N) after its revenue missed estimates.

Also weighing was Procter & Gamble (PG.N), which dropped

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currensceneFLOGO WHTsquareThough not the oldest form of currency, some form of shell money appears to have been found on almost every continent. The shell most widely used worldwide as currency was the shell of Cypraea moneta, the money cowry.

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