Tech Futures Plunge as Micron, Nvidia, SanDisk Dive: Live Coverage

💡 Tech futures plummet as Micron, Nvidia, and SanDisk lead the decline.

The tech-heavy Nasdaq futures plunged by 4.5% on Thursday, as investors reacted to a sharp decline in the shares of Micron, Nvidia, and SanDisk. The $SPY fell by 2.2% as the sell-off in tech stocks spilled over into the broader market.

Tech Stocks Lead the Decline

The sell-off was led by Micron, which fell by 12.5% after the chipmaker reported weaker-than-expected quarterly earnings. Nvidia also declined by 8.2% as investors grew concerned about the impact of a slowdown in the PC market on the company's sales. SanDisk, which was acquired by Western Digital in 2016, fell by 6.5% as the company's shares were sold off in conjunction with the decline in Western Digital's stock.

Semiconductor Stocks Under Pressure

The decline in Micron's shares was a significant factor in the sell-off in the semiconductor sector, as investors grew concerned about the impact of a slowdown in the PC market on the company's sales. The $SMH, which tracks the performance of semiconductor stocks, fell by 5.1% as investors sold off shares in companies that rely on the PC market for a significant portion of their sales.

What It Means for Investors