Nasdaq Falls for Second Straight Session Amid Micron-Led Tech Selloff

U.S. markets closed mixed on Monday as weakness in technology stocks pressured the Nasdaq and S&P 500, while investors closely tracked rising bond yields, oil prices, and escalating Middle East tensions.

The S&P 500 slipped 0.07% to close at 7,403.05, while the Nasdaq Composite declined 0.51% to 26,090.73, marking a second consecutive losing session for both indexes. Meanwhile, the Dow Jones Industrial Average gained 159.95 points, or 0.32%, ending the day higher.

Chipmakers led the market decline after Seagate’s CEO warned during a JPMorgan conference that building new manufacturing facilities would “take too long” to meet increasing demand. Seagate shares dropped nearly 7%, dragging Micron Technology down almost 6% and fueling concerns about limited capacity in the memory chip industry.

Other semiconductor stocks also came under pressure, with Western Digital falling 4.8% and Sandisk losing 5.3%. AI-related giants Nvidia and Broadcom each slipped around 1%.

The pullback comes after major indexes recently touched record highs, while rising global bond yields added pressure to growth and technology stocks. The U.S. 30-year Treasury yield climbed to its highest level in nearly a year, contributing to Friday’s sharp selloff in the Nasdaq-100.

Meanwhile, geopolitical tensions between the U.S. and Iran kept oil prices elevated. WTI crude rose roughly 3% to settle near $108.66 per barrel, while Brent crude gained more than 2% to close above $112.

Oil prices eased slightly after President Donald Trump announced he was delaying a planned military strike on Iran following diplomatic discussions involving Qatar, Saudi Arabia, and the UAE. Investors are also weighing recent inflation data, which reduced expectations for near-term Federal Reserve rate cuts.