Tech-led selloff drags stocks as memory chips slump

Stocks fell as memory and semiconductor names led a tech-driven slide, with information technology the day’s worst sector and five of the Magnificent 7 dropping; Seagate’s capacity warnings pulled memory peers lower while energy outperformed. Hedge fund activity around AI infrastructure names sparked big moves in Lumentum and Coherent after exits; T1 Energy surged on a disclosed 3.6% stake, LiveRamp jumped on a $2.17 billion all‑cash buyout by Publicis, and Berkshire Hathaway rotated out of UnitedHealth while adding Macy’s and Delta. Bitcoin and Ethereum wobbled as ETFs faced outflows, underscoring caution amid AI spending and supply dynamics.