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Nasdaq closes 2% lower, led by Micron, as global tech sell-off rattles markets

The Nasdaq Composite fell 2.21% to 25,587.04 and the S&P 500 dropped 1.44% to 7,365.46. A global rout in memory chip stocks and AI-related shares drove the decline. Micron and SanDisk were among the primary drivers of the sell-off.

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What changed

The Nasdaq and S&P 500 closed lower following a coordinated retreat in memory and storage stocks.

Live updates

  1. Nasdaq Drops 2.21% as Global Chip Sell-Off Intensifies

    The Nasdaq Composite fell 2.21% to 25,587.04 and the S&P 500 dropped 1.44% to 7,365.46. A global rout in memory chip stocks and AI-related shares drove the decline. Micron and SanDisk were among the primary drivers of the sell-off.

    What's confirmed:

    • The Nasdaq Composite closed down 2.21% at 25,587.04.
    • The S&P 500 fell 1.44% to 7,365.46.
    • Micron, SanDisk, and Nvidia were among the companies leading the tech sell-off.
    • The South Korean market plunged 10%.
    • Micron shares fell 7% to $1,130 in early Friday trading.
    • SanDisk shares fell 7% to $2,176 and Western Digital declined 6% to $626.

    Still unconfirmed:

    • The coordinated retreat in memory and storage names suggests profit-taking rather than a thesis-breaking shift.
    • Rate concerns and AI spending doubts are pressuring Wall Street.
    confidence 90%