Skip to content
Subscriber Only

Nasdaq Composite Drops as Chipmakers Slump on Micron; Nike Gains

Updated on

The Nasdaq Composite Index fell, capping its biggest weekly slide in almost two months, as Micron Technology Inc.’s disappointing forecast sparked a selloff in semiconductor shares while investors continued to watch Greek debt talks.

Chip companies in the Standard & Poor’s 500 Index dropped the most in three months, led by Micron’s 18 percent tumble after its sales forecast missed projections. Intel Corp. lost 3 percent and SanDisk Corp. slid 1.9 percent. Nike rose 4.3 percent to a record after better-than-estimated quarterly results. Tenet Healthcare Corp. added 2.8 percent to yesterday’s 12 percent jump.