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Chip Stocks Plunge on AI Spending Fears and China Competition

Yahoo Finance Read original source (opens in a new tab)
The Story

News Summary

  • Micron shares plunged 9% amid a broader chip-sector sell-off driven by Chinese competition fears and waning investor patience regarding heavy AI capital expenditures by tech giants like Alphabet.
  • Looming Federal Reserve rate hike concerns further pressured the broader equity market.
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