Shares of technology companies slid as traders retreated from risk.
Intel plans to build a $4.6 billion semiconductor assembly and test facility in Poland, giving the country a coveted place in the chip giant’s growing European production footprint and boosting Europe’s efforts at becoming more self-sufficient in chip production.
Meanwhile, Micron Technology said it would invest about $600 million to expand production in the Chinese city of Xi’an, a move that comes about a month after Beijing blacklisted the memory-chip company.
Adobe shares rose after it posted better-than-expected financial results for its latest quarter and boosted its outlook for the full fiscal year, extending a rally which had already driven up the stock price 42% since mid-May.
Write to Amy Pessetto at [email protected]
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