Micron Technology is on track for its most severe monthly decline in over a decade, as investor anxiety over deepening trade tensions with China accelerates a broad selloff across the semiconductor industry.
The memory chip maker’s shares have plummeted, erasing roughly $138 billion in market capitalization in just two trading sessions, signaling a stark shift in sentiment toward US tech firms with significant exposure to the Chinese market.
The selling pressure intensified on Wednesday, with Micron shares falling 11% to extend losses from a 13% drop on Tuesday that saw the stock slide to $1,055.
The selling pressure intensified on Wednesday, with Micron shares falling 11% to extend losses from a 13% drop on Tuesday that saw the stock slide to $1,055.
This rapid deterioration marks a volatile start to the month, as traders reassess the risk premium associated with companies reliant on Chinese demand or manufacturing supply chains.
The move has dragged down peers, reflecting a sector-wide repricing of geopolitical risk rather than company-specific fundamentals.
The selloff underscores the fragility of the recent rally in Chinese equities and the broader tech sector, which had been buoyed by hopes of stabilized trade relations.