Tech selloff deepens as Nasdaq slides more than 2% and Micron sinks over 11%

Global technology stocks extended losses for a second session, with the Nasdaq falling more than 2% and the S&P 500 down 1.6%. Micron Technology tumbled more than 11%, while semiconductor shares in South Korea and Japan also sold off sharply. Investors have focused on surging AI-related compute costs and tighter memory-chip supply that has pushed prices higher, alongside hawkish signals from the U.S. Federal Reserve that have revived expectations for two rate hikes this year. A U.S. waiver of sanctions on Iranian oil and petrochemical exports has also stirred concerns about renewed energy-driven inflation, though it has not disrupted supply, according to ANI.