Micron Plunges 10%, Wiping Out $110B in Market Cap

Micron Technology (MU) saw its stock price drop as much as 10% in Wednesday trading, deepening a recent selloff in memory-chip stocks. The sharp decline has erased approximately $110 billion in market capitalization from the company in a single session.

The move follows a broader downturn in semiconductor and memory stocks, with investors apparently rotating out of the sector. No specific company announcement accompanied the drop, suggesting the selloff may be driven by macro or sector-wide concerns.

As of the time of reporting, Micron's losses continued to mount, with the stock on track for its worst single-day performance in months.