The semiconductor sector experienced a broad sell-off on Wednesday, dragging down memory chip maker Micron Technology shares, which plunged 9% in early trading.
As of 11:40 AM Eastern Time, shares of AMD, Intel, and Marvell Technology were all down more than 5%, while SanDisk shares tumbled over 11%.
Dutch semiconductor equipment giant ASML Holding NV raised its 2026 performance guidance for the second time this year, providing a positive catalyst that initially boosted the chip sector in pre-market trading on Wednesday.
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