$1.3 trillion wiped off Wall Street as AI rally slows; Nvidia slips 6%, Micron falls 13%
US tech stocks came under heavy pressure on Friday, with semiconductor giants leading the decline as investors grew cautious about artificial intelligence-fuelled valuations and digested stronger-than-expected US jobs data.The sell-off was most severe in the chip sector, where the PHLX Semiconductor Index plunged 10.3%, marking its steepest single-day fall since March 2020. The decline followed…