Nasdaq Tumbles as Micron Falls 6%, Nvidia's Earnings Loom

The Nasdaq Composite index dropped 0.61% Monday, weighed down by its heavy exposure to high-tech hardware makers.

Micron Technology fell 6%, leading a decline in memory chip stocks after a researcher warned that the speed of AI computing is outpacing underlying memory bandwidth at the Hot Chips 2026 conference.

Nvidia's upcoming earnings report on Wednesday, alongside the Fed's preferred inflation gauge, has investors watching closely. The chipmaker's stock fell 2.1% ahead of its quarterly results.