The Nasdaq Composite closed lower for a fourth consecutive session on Thursday, as renewed selling pressure in the technology sector dragged down major US equity indices.
The downturn marks a continuation of the weakness that has plagued the group over the past three trading days, with investors rotating away from high-growth names amid broader market volatility.
In contrast, memory chip maker Micron Technology delivered a standout performance, with shares jumping nearly 16% after the company reported earnings that significantly exceeded analyst expectations.
Apple Inc. emerged as a key drag on the tech-heavy index, with shares declining after the company announced price increases for its MacBook and iPad product lines.
The pricing move, intended to offset supply chain costs and currency headwinds, has sparked concerns among investors about potential demand elasticity in a softening consumer environment.
The negative reaction to Apple’s guidance weighed heavily on the Nasdaq’s closing performance.
In contrast, memory chip maker Micron Technology delivered a standout performance, with shares jumping nearly 16% after the company reported earnings that significantly exceeded analyst expectations.