US STOCKS-Wall Street dips after strong rally as U.S.-Iran tensions escalate

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* Chipmakers fall after IQE's sales warning
* Trump warns Tehran of a U.S. attack was imminent
* Energy companies gains as crude prices move higher
* Indexes dip: Dow 0.09 pct, S&P 0.23 pct, Nasdaq 0.47 pct

(Updates to open)
By Amy Caren Daniel
June 21 (Reuters) - U.S. stocks slipped on Friday as rising
tensions between the United States and Iran slammed the brakes
on this week's run that lifted the S&P 500 to a record high.
The Federal Reserve has signaled an interest rate cut as
early as July, sparking a rally in stocks that helped the S&P
500 index .SPX close at a new record of 2,954.18 on Thursday.
But an escalation in tensions in the Middle East after
President Donald Trump delivered a warning of an imminent attack
on Iran weighed on sentiment. "When you look at the magnitude of the move we've had in a
short period of time, especially this week, I'm not surprised to
see the markets lower today," said Art Hogan, chief market
strategist at National Securities in New York.
"We know there's a G20 meeting, which could be binary in its
results being bullish or bearish. It's not unusual for investors
to take a bit of a pause."
The United States and China have said that they would
restart their trade talks after a long lull at the Group of 20
summit in Japan next week. Fears of the impact of the prolonged
trade war on global economic growth had triggered the worst
monthly performance of U.S. stock indexes this year in May.
The possibility of a disruption of oil flows if the U.S.
attacks Iran fueled a 1% rise in crude prices and pushed the
energy sector .SPNY 0.4% higher. O/R
At 9:52 a.m. ET, the Dow Jones Industrial Average .DJI was
down 24.19 points, or 0.09 percent, at 26,728.98. The S&P 500
.SPX was down 6.67 points, or 0.23 percent, at 2,947.51 and
the Nasdaq Composite .IXIC was down 37.68 points, or 0.47
percent, at 8,013.66.
Chipmakers fell after Britain's IQE Plc IQE.L became the
latest semiconductor company to warn on full-year revenue,
citing the impact of the Huawei ban. The Philadelphia chip index fell 0.52%, while the broader
technology sector .SPLRCT declined 0.35%.
Carnival Corp CCL.N fell for the second day, down 3%, and
among the biggest decliners. Several brokerages trimmed their
price targets after the cruise operator cut its 2019 profit
forecast.
Declining issues outnumbered advancers for a 2.51-to-1 ratio
on the NYSE and for a 3.15-to-1 ratio on the Nasdaq.
The S&P index recorded 18 new 52-week highs and one new low,
while the Nasdaq recorded 17 new highs and 29 new lows.