US Stocks | AI chip slump extends on Wall St as SanDisk sinks 12%, Micron drops 9% and AMD falls 5%

US technology stocks suffered a sharp selloff led by AI chipmakers, with SanDisk plunging 12 percent, Micron falling 9 percent, and AMD dropping 5 percent in premarket trading. Intel lost nearly 7 percent and Western Digital slid about 8 percent, while Nasdaq 100 futures fell around 2.5 percent, putting the index on track to erase more than 1 trillion dollars in market value. The decline reflects growing investor concerns over whether massive AI infrastructure spending by tech giants such as Microsoft, Amazon, Alphabet and Meta can generate sustainable returns, with six of the seven Magnificent Seven stocks trading lower.