* Indexes down: Dow down 0.58%, S&P 500 down 1.47%, Nasdaq

down 2.5%

* Chips resume selloff after short-lived bounce on Monday

* Consumer prices data, SpaceX market debut on watch this

week

(Updates with early afternoon trading)

By Twesha Dikshit and Joel Jose

June 9 (Reuters) - The S&P 500 and the Nasdaq fell to over

one-month lows on Tuesday, as technology stocks lost momentum,

with investors turning cautious ahead of inflation data and a

highly anticipated SpaceX IPO later this week.

Shares of chipmakers Nvidia ( NVDA ), Broadcom ( AVGO ) and

Micron Technology ( MU ) dropped between 3.5% and 7%. The

Philadelphia SE Semiconductor index fell almost 7% after

rising as much as 3% in early trading.

The S&P 500 tech index shed 4.4% following a

short-lived bounce on Monday.

Technology and AI-linked stocks sold off sharply on Friday

after Broadcom's ( AVGO ) disappointing forecast fueled concerns about

high valuations in the sector, particularly in chipmakers, which

have rallied strongly this year.

"Tech stocks - that's where a lot of the growth and momentum

has been during this recent leg of the rally," said Jordan

Rizzuto, CIO at GammaRoad Capital Partners.

"They are typically the most rate sensitive. And so it's no

surprise that with increased uncertainty around rate

expectations... tech, particularly, is seeing some profit

taking."

A stronger-than-expected jobs report on Friday added to

concerns that the Federal Reserve will raise interest rates this

year. Traders are pricing in a 43% chance of a 25 basis point

rate hike in December, as per CME Group's FedWatch tool.

Investors are now awaiting consumer prices data for May,

which could offer fresh clues on how the rise in energy prices,

driven by the war in Iran, is impacting inflation. The data is

due on Wednesday.

Oil prices tumbled more than 4% after Iran

and Israel said they had halted attacks on each other following

an appeal from U.S. President Donald Trump.

At 12:13 p.m. ET, the Dow Jones Industrial Average

fell 294.03 points, or 0.58%, to 50,497.17, the S&P 500

lost 108.95 points, or 1.47%, to 7,296.78 and the Nasdaq

Composite lost 658.24 points, or 2.54%, to 25,271.42.

SpaceX's market debut on Friday could also be a hurdle for

U.S. stocks as investors worry about possible overexuberance

among high-growth technology stocks. Elon Musk's SpaceX is

aiming to raise $75 billion and targeting a valuation of $1.75

trillion, the most ever for an IPO.

Paul Nolte, senior wealth advisor and market strategist for

Murphy & Sylvest, said investors are potentially booking profits

in the high-flying semiconductor stocks to make room for SpaceX

in their portfolios.

Among other movers, packaged food maker J.M. Smucker ( SJM )

rose 12% after forecasting annual profit above Wall Street

expectations.

Cancer drug developer Nuvalent ( NUVL ) surged 35% after GSK

agreed to buy the company for $10.6 billion, valuing

Nuvalent ( NUVL ) at about $124 per share, a 40% premium to the stock's

last closing price.

Advancing issues outnumbered decliners by a 1.08-to-1 ratio

on the NYSE, and on the Nasdaq, declining issues outnumbered

advancers by a 1.25-to-1 ratio.

The S&P 500 posted 26 new 52-week highs and six new lows,

while the Nasdaq Composite recorded 135 new highs and 102 new

lows.