Micron stock dropped 13 percent in one day.
Market value lost in that move was $138 billion.
Intel fell 9 percent and AMD fell 7 percent.
VanEck chip ETF dropped 5 percent after big Q2 gains.
Reports say SK Hynix is slowing down memory chip growth.
Investors are scared that AI spending is not bringing enough cash back.
The market is finally asking for proof of profit instead of just buying the AI hype.
Big institutions are using the holiday to dump their bags while liquidity is low.
A “correction” is just code for the smart money heading for the exit.