Micron Technology Inc(NASDAQ:MU) shares are trading lower by 3.92% to $85.89 during Friday's session as semiconductor, hardware and AI-related stocks continue to experience a broader market pullback. The sector's decline is also likely tied toBroadcom Inc.'sdip after posting its earnings report, which has weighed on other chipmakers.

How Jobs Data Affects Micron:Friday's release of jobs data showed slower-than-anticipated growth in nonfarm payrolls. This weaker-than-expected report could be causing investors to reevaluate their expectations for potential Federal Reserve interest rate cuts.

Previously, there was a 43% likelihood of a 50-basis...