Stocks Fall as Tech Sell-Off Expands to Memory and Chips; SpaceX Rebounds Off Record Low

Price ActionCommodity
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Summary · why it matters

U.S. stocks fell on Tuesday as a tech sell-off deepened and spread to memory and chip stocks, with the Nasdaq Composite dropping 2.2%, the S&P 500 shedding 1.4%, and the Dow Jones Industrial Average dipping 0.1%. Memory stocks tumbled, with Sandisk down 14%, Western Digital falling 8%, and Micron losing 13%, while the Roundhill Memory ETF dropped about 12% after hitting a record high on Monday. SpaceX stock eked out a 1% gain after trading at its lowest price ever early in the session, recovering from a 16% drop on Monday that marked its lowest close since its blockbuster IPO earlier this month. Other mega-cap tech stocks were mixed, with Alphabet extending losses, Nvidia falling 4%, Tesla losing 6%, and Microsoft rising 2%. Oil prices continued to decline after the U.S. agreed to lift sanctions on Iranian oil sales for two months, with West Texas Intermediate futures down about 1% to $73.40 a barrel and Brent falling to $76.90. The 10-year Treasury yield ticked down to 4.50%, Bitcoin traded at $62,400, gold futures declined nearly 2% to $4,125 a troy ounce, and the U.S. dollar index climbed 0.4% to 101.40.

Impact on stocks 17

Semiconductors · 3 stocks
Sandisk Corp
SNDK
▼ Negativerelevance

Down 14% as memory stocks tumbled, but no cause given.

Cloud & Digital Infrastructure · 2 stocks
Quantum Computing · 2 stocks
Space Economy · 1 stocks
Electrification & Mobility · 1 stocks
Tesla Inc
TSLA
▼ Negativerelevance

Tesla lost 6% as part of broader tech sell-off, but no company-specific news.

Communication Services · 1 stocks