Dow Leads: Nvidia, Micron, and SanDisk Plummet on AI Fears and Rate Hike Looms

Nvidia, Micron Technology, and SanDisk have taken a hit in pre-market trading amid concerns over AI's impact on their businesses. These stocks are among those that have been affected by fears that advancements in artificial intelligence could lead to reduced demand for their products.

The Dow Jones futures plummeted 1% in the early hours of trading, with Nvidia leading the decline after its stock price dropped 4.3% overnight. Micron Technology and SanDisk also saw significant losses, falling 2.6% and 2.8%, respectively.

Investors are bracing for a potential interest rate hike by the Federal Reserve, which could further exacerbate market volatility. The central bank's decision is expected to be announced later this week, with some analysts predicting a 25-basis-point increase.