Micron Technology IncImpact on stocks 1
Micron Technology IncU.S. stocks regained some ground after an early plunge on Tuesday but remained sharply lower, with the Nasdaq down 358.67 points or 1.4 percent at 25,807.94 after falling as much as 2.5 percent. The S&P 500 dropped 67.08 points or 0.9 percent to 7,405.71, while the Dow edged up 19.93 points to 51,732.64. A 7.3 percent plunge in the Philadelphia Semiconductor Index weighed on markets, with Micron Technology tumbling 10.4 percent ahead of its fiscal third-quarter results. The NYSE Arca Computer Hardware Index fell 4.5 percent, and the NYSE Arca Gold Bugs Index lost 4 percent as gold prices declined. In overseas trading, Japan's Nikkei 225 Index sank 3.6 percent and China's Shanghai Composite Index slid 1.4 percent, while European markets were mostly lower with the German DAX Index down 0.7 percent and the French CAC 40 Index off 0.4 percent. The yield on the benchmark ten-year Treasury note fell 2.4 basis points to 4.485 percent.
Micron Technology Inc