Micron Technology (NASDAQ:MU) stock fell 6. 3% on Thursday, Oct. 22, as rising oil prices and concerns about AI spending dragged on chip stocks. The S&P 500 and the Nasdaq Composite were down 1. 2% and 2. 6%, respectively. Brent crude, an international benchmark for oil prices, topped $112 a barrel after attacks in Saudi Arabia raised concerns about further disruptions to energy supplies. The ongoing war has choked oil and gas flows from the region and sent prices soaring, from around $72 just before the conflict began to their elevated levels today.
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