By Hannah Pedone and Britney Nguyen
Investors are cooling on momentum stocks and considering the implications of a strong jobs report
Micron shares lost 13% in Friday's trading action.
Major chip stocks sold off sharply on Friday to seal the sector's sharpest one-day loss in more than six years, as investors bailed on momentum-oriented plays.
The PHLX Semiconductor Index SOX closed down 10.3% on Friday afternoon - its largest one-day percent decline since March 16, 2020, according to Dow Jones Market Data.
