Jun 23, 2026 · 6 min
Global tech sell-off drags down major indexes as chipmakers tumble
Chipmakers, FedEx, Best Buy Fall
The sharp decline in semiconductor giants reveals growing market vulnerability and rising investor skepticism over the sustainability of the AI-driven tech boom.
- 1A sharp sell-off in SanDisk and Micron has triggered a broader decline across major US stock indexes.
Don't miss
Nora Melinda breaks down how a tech sell-off in South Korea spilled over to drag down US chip giants Micron and SanDisk.
The brief
A sharp global sell-off in chipmakers has dragged down major US indexes, signaling growing investor skepticism over the high-flying artificial intelligence tech rally that has dominated markets for months.
The downturn was triggered by double-digit drops in major chip stocks SanDisk and Micron Technology, a slide that closely mirrored a broader technology sell-off spilling over from South Korean markets.
Beyond tech, logistics giant FedEx is facing intense scrutiny ahead of its upcoming earnings report, which will serve as a key test of corporate health following the recent spinoff of its freight unit.
Meanwhile, retail giant Best Buy is navigating its own transition, experiencing immediate market volatility following the sudden departure of its long-time Chief Financial Officer, Matt Bilunas.
What was said on this episode
5 statements · 2 positive · 1 negative · 2 neutral
SanDisk and Micron are among the S&P 500’s worst-performing stocks today.
“SanDisk and Micron, both down double digits on the day, sitting as the worst performing stocks in the S&P 500.”
Listen at 0:58
Investors are focusing on FedEx’s outlook after its freight-business spinoff.
“Investors really focused on the company's outlook following a recent spinoff of its freight business.”
Listen at 2:10
FedEx and similar companies are viewed as barometers of the broader US economy.
“everyone thinks as FedEx and a lot of those other similar companies as barometers for that.”
Listen at 2:44
Wedbush thinks Best Buy stock trades significantly below intrinsic value.
“they think that the stock is actually trading at a significant discount to its intrinsic level.”
Listen at 3:49
Wedbush rates Best Buy Outperform.
“wedbush, leaving that at an outperform rating”
Listen at 3:57
Statements are attributed to the speaker as said on the episode and reflect their view at the time, not PodLume's. They are not advice.
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