SanDisk Plummets 14% as Chip Stocks Tumble While Dow Hits New High
2026-07-03 04:02

Woofun AI reports that U.S. equity markets closed with mixed results on Thursday, as the Dow Jones Industrial Average gained 1.1% to establish a new closing high. The S&P 500 experienced a slight decline, while the Nasdaq Composite dropped 0.8%. The semiconductor sector faced significant downward pressure, with SanDisk shares plummeting 14%. Other chip manufacturers also suffered losses, including Micron Technology down 5.4%, Intel down 5%, and both Seagate Technology and Western Digital falling approximately 10%. In contrast, Apple defied the broader market weakness by rising 4.8%, whereas Meta declined nearly 5%.

Additionally, the Nasdaq China Golden Dragon Index fell 1.77%, with Baidu and Xpeng Motors each dropping around 4%.

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