Why is Zalando stock plunging today?

Market reports indicate a downward trend for three major companies. Zalando stock is currently plunging, while ON Semiconductor is experiencing a significant tumble in its share price. Simultaneously, Micron Technology stock is sliding. These three distinct entities are all facing negative market momentum today, leading to a decrease in their respective valuations. Investors are monitoring these declines as the stocks for Zalando, ON Semiconductor, and Micron Technology continue to fall across the trading session.