SanDisk Corp. (SNDK) saw its shares drop 5.02% in pre-market trading on Monday, reflecting a broader downturn in the storage and memory-chip sector. The decline was part of a wider sell-off affecting peers like Western Digital, Micron Technology, and Seagate, which also fell significantly during the session.
The sector-wide weakness comes amid a cautious market environment, with investors awaiting key economic data and Federal Reserve Chair Jerome Powell's remarks for clues on future monetary policy. Memory-chip stocks, including SanDisk, were particularly hard hit, signaling risk aversion in the tech sector ahead of potential market-moving events.