Shares of technology companies fell amid concerns about Chinese competition for memory-chip makers.

Micron stock fell 8% as Chinese rival CXMT's IPO raised nearly $10B and surged 466%, rattling semiconductor investors despite Micron's record

ASML stock tumbled on a report of competition emerging in China. It was among the biggest losers on the Philadelphia semiconductor index.

Japanese and South Korean indexes plunge, led by tech stocks

Major tech stocks in Japan and Taiwan also fell sharply across the board