Why Is AMD Stock Plunging Today?

Today’s market rout is being driven by key losses in a few major stocks. Among the lead decliners today is chip maker Advanced Micro Devices $SSE Industrial Index (000004.SH)$ . As of 2:15 p.m. Eastern, AMD stock is down a dramatic 7.5%, in an incredible move.

This decline comes on little company-specific news. That said, rival Micron (NASDAQ:MU) is set to report earnings after market close today, which many seem to think will underwhelm the market.