Micron falls 5% as tech stocks struggle

Micron Technology's shares tumbled on Friday, giving back some of the gains from a post-earnings rally, as the memory chipmaker looked to wrap a rocky week of trading that has seen big swings.

The stock sank 2% as other tech firms also struggled. Intel fell 3%, Arm shed 4%, and Marvell declined 4%.

Investors remain wary of the rising costs of artificial intelligence infrastructure, with the sell-off reverberating across global markets following a New York Times report that OpenAI is considering pushing back IPO timing to next year.

In Europe, key chip stocks also saw losses.

ASML was down 2.2%, Infineon fell 3.7%, ASM International dropped 2.8%, ST Microelectronics lost 3.3%, and Be Semiconductor fell 2%. Japanese conglomerate Softbank led losses in Asia and plunged more than 12%.