Stock Market Today: Techs Dive As South Korea Leads Global Rout; Sandisk, Micron Dive As SpaceX Nears Lows

A broad global equity selloff, catalyzed by weakness in South Korea markets, is hitting tech and semis hard, with Sandisk (SNDK) and Micron (MU) among the steepest decliners in the storage space. SNDK is reporting $7.4B in revenue (+10.4% YoY) but is still deeply unprofitable at -22.3% net margin and -$11.32 diluted EPS, making it particularly vulnerable to risk-off flows. Micron presents a stronger fundamental picture — $37.4B in revenue (+48.9% YoY), 39.8% gross margin, and $7.59 diluted EPS — suggesting its selloff may be more technically driven than fundamentally justified.

The key question is whether this is a macro flush that creates a re-entry in MU or the beginning of a more sustained rotation out of memory names. SNDK's negative earnings profile leaves it exposed if the selloff prolongs, while MU's profitability and explosive revenue growth could attract dip buyers once macro noise fades. Watch South Korean DRAM/NAND data and any Fed or tariff headlines as potential re-rating catalysts.