Nasdaq today fell 0.4% on Wednesday as AI jitters returned ahead of Micron earnings after the bell. The move put fresh pressure on high-flying AI-linked stocks that had already taken a hit in the prior session.
0.4% was the drop for the Nasdaq Composite, while the S&P 500 fell 0.1% and the Dow Jones Industrial Average gained 0.3%. That split left Wall Street with a cleaner read on where the selling was concentrated: tech, not the broader market.
Micron Faces 250% Rally Pressure
250% was how far Shares of Micron had rallied this year before Wednesday’s pullback. Micron extended losses from the prior session as selling pressure in tech stocks resumed, driven by worries about lofty valuations, massive spending, and coming interest rate hikes.
Wednesday’s tape made the setup plain for anyone watching AI-linked names. When a stock has already run that far, even a modest round of profit-taking can turn into a fast reset in the group, and Micron was trading into its earnings release with that burden on it.
Brent Crude At $73
4% was the drop in Brent crude futures, which fell to $73 a barrel, while West Texas Intermediate crude futures moved to near $70 a barrel. Oil prices dropped to their lowest levels since early March as tanker traffic resumed through the Strait of Hormuz.
President Trump had pledged that the Strait of Hormuz would remain free of tolls, but US-Iran talks remain uncertain even as oil tankers began navigating the waterway again. That keeps the market split between relief on shipping flow and the risk that diplomacy can still move prices again.
Wednesday leaves Micron as the next live test for the AI trade: if earnings show that demand is still broad enough to support the spending behind it, the recent selling can ease; if not, the pressure on AI-linked stocks can extend beyond one session.
