Micron Shares Plunge 5.8% as Nasdaq Drops on Gulf Energy Attacks
MUMU•
Micron Technology shares dropped 5.8% as the Nasdaq 100 led U.S. markets lower following escalating attacks on Gulf energy sites that sent oil prices above $99 a barrel. The Nasdaq fell 0.7% overall, with Micron as its worst performer during the session.
1. Market Reaction to Gulf Energy Attacks
U.S. equity futures pointed to a broad decline as attacks on Gulf energy sites drove oil prices above $99 a barrel, pressuring major indexes. In early trading the Nasdaq fell 0.7%, while the Dow and S&P 500 each declined 0.5%.
2. Micron Becomes Top Nasdaq Loser
Micron Technology shares slid 5.8%, making it the worst performer on the Nasdaq 100, ahead of Western Digital’s 3.3% drop. Investors cited concerns over rising energy costs and potential inflationary impacts on semiconductor demand.
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Sources
WFF