Micron, SoftBank and ASML slide as Wall Street chip rout spreads

Global chip stocks fell Tuesday as investors reacted to Chinese memory maker ChangXin Memory Technologies' announcement of a new chip architecture. Micron dropped 3% in U.S. premarket trading, while SoftBank sank 8.5% in Japan and ASML declined 3.3% in Europe. The sell-off extended Monday's losses, driven by concerns over intensifying competition from China and worries regarding artificial intelligence financing.

Source: Micron, SoftBank and ASML slide as Wall Street chip rout spreads — CNBC

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Topics: micron · softbank · asml · techstocks · finance