Seagate Stock Is Getting Crushed. Here’s What Spooked the Market.

Shares of data storage and memory chip companies like Western Digital Seagate Technology and Micron Technology fell Thursday after Japanese competitor Kioxia Holdings reported a steep drop in profit. Seagate and Western Digital, which specialize in hard disk drives, were down 6.1% and 6.4%, respectively. Micron, which makes flash and random-access memory chips, was down 1.5%.