SanDisk Shares Slide 6.2% Pre-Market as Nasdaq Futures Drop 2.1%
SanDisk shares plunged 6.2% in pre-market trading as Nasdaq futures fell 2.1% and S&P 500 and Dow futures dipped 1.7% on escalating Iran conflict. Heightened geopolitical tensions sent oil prices up 7.3% to $76.38 a barrel, intensifying risk-off sentiment in tech stocks.
1. Pre-Market Tech Selloff
Tech-heavy futures led the downturn, with Nasdaq futures down 2.1% and S&P 500 and Dow futures off around 1.7% ahead of Tuesday’s open as investors braced for wider Middle East hostilities.
2. SanDisk Shares Plummet
SanDisk was among the biggest fallers, sliding 6.2% in pre-market trading. The sharp drop exceeded declines in peers like Micron and Seagate, reflecting acute risk aversion in memory and storage names.
3. Geopolitical Tensions Driving Markets
Escalation in the Iran conflict fueled a surge in oil, with West Texas Intermediate jumping 7.3% to $76.38 a barrel. Rising energy costs and supply concerns are amplifying selloff pressures across cyclical and tech sectors.