Shares in US chip manufacturers tumbled, primarily influenced by memory and data storage firms, following competitive moves from China’s CXMT. The sector faced significant pressure, stemming from concerns over escalating rivalry and demands for AI investments. Key players like Micron Technology, Seagate Technology, SanDisk, and Western Digital saw notable declines in their stock prices.
US stocks: Nasdaq ends down as chipmakers fall and bank earnings roll in
In a recent trading session, the Nasdaq index took a hit as chip stocks continued their downward spiral, amid diverging results from major banks like
October 13, 2026