Stock Market Today, June 26: Sandisk Tumbles and Tech Weakness Weighs on Markets

SanDisk crashed more than 10% on June 26, 2026, leading a brutal sell-off in memory and chip stocks as sticky inflation data triggered broad technology weakness. Micron Technology dropped 7% in the same session, with the memory sector bearing the brunt of investor rotation out of high-valuation tech names.

The Nasdaq Composite closed the week down 5%, pressured by mounting concern over artificial intelligence sector valuations. Despite the pullback, some analysts maintain that underlying fundamentals remain solid even as AI infrastructure buildouts drive elevated capital expenditures across the space.

The June 26 decline extended a week of losses for chipmakers, with inflation data reinforcing fears that interest rates will stay elevated longer than previously anticipated. Higher discount rates particularly pressure growth-heavy sectors like semiconductors, where cash flows are weighted toward future years.