Nasdaq Composite heads into Tuesday after 120-point Micron slide
Published on 10/13/2026 at 13:13 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS- Nasdaq Composite closed October 12 at 27,246 points, down 120 points or 0.4 percent.
- Micron fell 3.9 percent as Chinese memory competition pressured chip stocks.
- Micron was the biggest drag, while Arm Holdings dropped 6.5 percent.
- JPMorgan Chase and Goldman Sachs report October 13 before the 6:00 a.m. ET open.
The Nasdaq Composite closed on October 12 at 27,246 points, losing 120 points or 0.4 percent. Chinese memory competition pushed Micron and other chip stocks lower, while Brent crude rose to USD 106.65.
Micron fell 3.9 percent after Chinese memory maker ChangXin Memory Technologies reported progress on a denser DRAM design, CNBC reported. Nasdaq 100 futures fell 0.6 percent early Tuesday, while the KOSPI dropped 6 percent, Yahoo Finance said.
Chip stocks set the tone for the Nasdaq Composite
The Nasdaq Composite's decline followed a 3.9 percent drop in Micron and a 2.7 percent loss for the Philadelphia Semiconductor Index. Oil also climbed after attacks on a Saudi airport, while investors prepared for the first major bank earnings of the quarter, Reuters reported.
Winners and losers in the Nasdaq Composite
Monday's biggest moves according to HDFC Sky:
- Adobe up 3.6 percent: the stock led selected software gains.
- Intuit up 2.7 percent: the stock advanced despite broader technology weakness.
- Arm Holdings down 6.5 percent: chip-sector selling weighed on the stock.
- Intel down 5.3 percent: memory and semiconductor weakness pressured the shares.
- Micron Technology down 4.8 percent: Chinese memory competition intensified pricing concerns.
What comes next for the Nasdaq Composite
- October 13, 2026, 6:00 a.m. ET: JPMorgan Chase, Goldman Sachs, Citigroup and Wells Fargo release quarterly earnings, with consensus estimates listed by Nasdaq.
- October 13, 2026, 10:00 a.m. ET: September existing-home sales are expected at 3.96 million, versus 3.98 million previously, Investing.com says.
- October 13, 2026, 2:00 p.m. ET: The federal budget balance is expected at minus USD 28.0 billion, compared with minus USD 167.0 billion previously, Investing.com reports.
- October 14, 2026, 8:30 a.m. ET: September consumer-price data are expected, with headline inflation forecast at 3.7 percent year over year, Rio Times says.
