Weak Jobs Data Drives 5.8% Slide in Micron Shares
MU•Micron shares tumbled 5.8% after a June jobs report showed just 57,000 new positions versus 110,000 expected, intensifying semiconductor sector selloff. Apple's 4% surge on expanded foldable iPhone production added $182 billion to its market cap, partially offsetting broader tech weakness in the S&P 500.
1. Weak June Jobs Report Shakes Markets
The June payrolls report recorded 57,000 new positions against 110,000 expectations, undermining investor confidence and triggering sector-wide selling in technology and semiconductors.
2. Micron's Sharp Decline
Shares of Micron fell 5.8% as investors reassessed growth prospects, extending semiconductor underperformance even as broader markets saw mixed results.
3. Apple Rally Offsets Broader Tech Weakness
Apple's 4% rally on expanded foldable iPhone production plans added $182 billion in market cap, cushioning S&P 500 losses but leaving chip stocks under pressure.
