Semiconductor Index Erases 5% Gain as SanDisk Plunges 7% and Micron Drops 4%

The Philadelphia Semiconductor Index wiped out a 5% intraday rally. SanDisk fell 7%, Micron dropped over 4%, and SK Hynix declined more than 2%, while the Nasdaq Composite slipped 0.2%.

Woofun AI reports that the Philadelphia Semiconductor Index nearly eliminated its intraday gains, which had previously reached a 5% increase. SanDisk shares declined by approximately 7%, while Micron Technology fell over 4% and SK Hynix dropped more than 2%. The Nasdaq Composite Index is currently trading down by about 0.2%.