Micron Technology Drives Nasdaq Down 128 Points as Crude Tops $105
Micron Technology led tech stocks lower, dragging the Nasdaq Composite down 128 points while the S&P 500 and Dow Jones Industrial Average also posted notable losses. WTI crude climbed above $105 per barrel as the 10-year Treasury yield held at 4.6% and investors digest escalating U.S.-Iran tensions.
1. Micron Tech Leads Sector Weakness
Micron Technology shares declined in morning trading, dragging the Nasdaq Composite down 128 points and contributing to losses in the S&P 500 and Dow Jones Industrial Average. The stock’s weakness overshadowed early session gains as investors shifted away from technology names.
2. Rising Oil and Yields Pressure Markets
West Texas Intermediate crude futures climbed above $105 per barrel, driven by concerns over Middle East supply disruptions in the U.S.-Iran standoff. The 10-year U.S. Treasury yield held at 4.6%, increasing borrowing costs and weighing on investor risk appetite across equity markets.