Micron Technology stock fell 6.3% on Thursday, October 22, as rising oil prices and concerns about AI spending weighed on chip stocks. The S&P 500 fell 1.2% and the Nasdaq Composite fell 2.6%. Brent crude topped $112 a barrel after attacks in Saudi Arabia, up from about $72 before the conflict began. Higher oil prices can keep inflation, interest rates and borrowing costs elevated, which could slow orders for chipmakers as AI builders face financing pressure. Meta reported negative free cash flow for the first time since 2012 and plans to raise funds through a new class of stock.
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Related tickers and likely impact
NVDA
• NeutralNvidia
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Semiconductors |
| Market cap | $5.1T |
| Close on 10/22/2026 | 212.21 |
| Change that session | -4.40% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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