Micron stock dives as China reportedly blocks sales, other chip stocks join in fall

Fireworks came early for shares of Micron Technology Inc. on Tuesday, following a report that a Chinese court had blocked sales in China of memory-chip products from the Boise, Idaho-based company.

Shares of Micron MU, -5.51% dropped 5.5% to close at $51.48 in Tuesday’s abbreviated session ahead of the July Fourth holiday, after touching an intraday low of $50.10. Shares are still up 25% for the year, compared with a 3.6% rise in the PHLX Semiconductor Index SOX, -1.82% and a 1.5% gain in the S&P 500 index SPX, -0.49% .

On Tuesday, Taiwan’s United Microelectronics Corp.

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