Nasdaq Losses Reach 3% as Storage Stocks Extend Their Slide

The Nasdaq's decline widened to 3% as storage shares deepened losses Thursday morning, extending a sharp move in U.S. technology markets that serves as a key backdrop for crypto traders.

At 10:01 a.m. ET (15:01 UTC), SanDisk shares were down 11%, the largest decline among five storage companies in the update. Seagate Technology had fallen 9.99%, and Western Digital was lower by 9.44%. SK Hynix dropped 7.93%, while Micron Technology lost 7.03%.

The five companies were each down about 7% or more, with losses spanning nearly four percentage points from Micron to SanDisk. Three names — SanDisk, Seagate and Western Digital — were down roughly 10% or more. The declines were shared by every storage stock listed in the update.

The Nasdaq's 3% loss adds a broad market signal alongside the sharper losses in storage. For U.S. crypto traders, the concurrent moves provide a snapshot of weakness across technology markets during Thursday's session.