U.S. Stocks Close Lower, Micron ADR Falls Over 13%, Semiconductor Index Officially Enters a Technical Bear Market, With a Cumulative Decline of 22% from the June High

BlockBeats News, July 17th, according to BIT (bit.com) market data, the three major U.S. stock indexes collectively closed down, with the Dow down 0.2%, the Nasdaq down 1.47%, and the S&P 500 down 0.51%. The Philadelphia Semiconductor Index fell 4.3% in a single day, the semiconductor sector as a whole has now fallen 22% from its mid-June high, officially entering a technical bear market.

Semiconductors and storage concept stocks plummeted: SK Hynix ADR fell over 13%, SanDisk fell over 12%, Micron fell over 5%, Western Digital fell over 9%, Seagate Technology fell 10%.