MW These stocks are falling the most on Tuesday as the tech sector comes under pressure

By Philip van Doorn

Most of the day's biggest losers are still up tremendously for 2026

Sandisk's stock was the worst performer among the S&P 500 early on June 23 but it's still up more than 700% so far in 2026.

Broad U.S. stock indexes were all down early on Tuesday, with tech stocks seeing especially sharp pullbacks.

The S&P 500 SPX was down 0.8% in morning trading, while its information technology sector was down 2.3%.

Digging further into tech, the iShares Semiconductor ETF SOXX was down 6.1% on the day. This exchange-traded fund holds 30 stocks to track the NYSE Semiconductor index, and all of them were in the red in Tuesday morning trading, according to Dow Jones Market Data.

Granted, it's worth putting those performances into perspective. The S&P 500 IT sector was still up 18.3% for 2026 and the SOXX is still up 104% on the year.

Here are the day's worst performers among the S&P 500 as of 10 a.m. ET, based on data provided by LSEG:

 
Company                         June 23 price change  June price change  2026 price change  2025 price change 
Sandisk                                       -11.6%              18.6%             746.7%                N/A 
Western Digital                                -9.9%              24.2%             283.0%             282.3% 
Micron Technology                              -9.5%              12.9%             284.2%             239.1% 
Vertiv Holdings                                -9.4%               2.8%             100.3%              42.6% 
Corning                                        -8.9%               5.5%             118.2%              84.3% 
Teradyne                                       -8.9%              11.2%             115.1%              53.7% 
Lam Research                                   -8.7%              17.5%             118.4%             137.0% 
Seagate Technology Holdings                    -8.5%              13.8%             263.6%             219.1% 
Applied Materials                              -8.3%              30.4%             128.3%              58.0% 
KLA                                            -8.2%              28.6%             103.4%              92.8% 
ON Semiconductor                               -7.7%               0.7%             124.3%             -14.1% 
Coherent                                       -7.5%               8.8%             113.2%              94.8% 
Carnival                                       -7.2%              -0.2%              -8.3%              22.6% 
Marvell Technology                             -6.6%              40.2%             238.2%             -23.1% 
Arista Networks                                -6.6%               2.2%              24.4%              18.5% 
Qualcomm                                       -6.5%             -17.3%              21.3%              11.3% 
Texas Instruments                              -6.5%               1.7%              79.2%              -7.5% 
Analog Devices                                 -6.0%               1.1%              54.3%              27.6% 
Qnity Electronics                              -6.0%               5.8%             102.2%                N/A 
Comfort Systems USA                            -5.9%               6.4%             108.4%             120.1% 
                                                                                                 Source: LSEG 

The S&P 500's three largest decliners Tuesday morning - Sandisk $(SNDK)$, Western Digital $(WDC)$ and Micron $(MU)$ - all manufacture memory chips and related hardware. These three stocks were still up for June and were showing triple-digit year-to-date gains.

The high volatility during Tuesday's trading session could wind up being a momentary blip as the hardware-infrastructure buildup to support generative artificial intelligence continues.

Micron reports earnings on Wednesday afternoon. That will mark a key test for the semiconductor sector.

The only consumer-sector stock on the list of largest decliners was Carnival $(CCL)$, which reported results for its fiscal second quarter that included record revenue, though the cruise operator also lowered its outlook for net yield (daily profit per passenger) for fiscal 2026.

Carnival CFO David Bernstein said in the company's earnings press release that booking volume "headwinds" in the Mediterranean region, associated with the conflict in the Middle East, were beginning to reverse.

-Philip van Doorn

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June 23, 2026 11:21 ET (15:21 GMT)

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