Why Micron Stock Sank Today
(NASDAQ: MU) stock lost ground in Tuesday's extremely volatile trading session. The company's share price closed out the day down 5.2% despite having been up as much as 6.7% earlier in the day. Meanwhile, the S 500 and the Nasdaq Composite ended the session down 2.1% and 2.9%, respectively.
The stock market jumped early in today's trading following news that trade negotiations between the U.S. and Japan were imminent, but the gains didn't hold. Some investors took the rebound rally as an opportunity to move out of stocks, and sell-offs intensified after the Trump administration confirmed plans for tariffs totaling 104% on products from China.
News that a team of officials from Japan will meet with Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer to negotiate a bilateral trade agreement helped spur rebound momentum for the stock market this morning, but the bullish backdrop didn't last for long. The Trump administration's confirmation that tariffs on Chinese goods will rise to a cumulative 104% at midnight prompted a bearish reversal for the market. Making matters worse for Micron, Greer stated that tariff exemptions for semiconductors and pharmaceuticals were in place because those categories required "their own investigations."
Source Fool.com
Micron Technology Inc. Aktie
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