Stock Market Update

[BRIEFING.COM] The S&P 500 (-0.8%), Nasdaq Composite (-1.1%), and DJIA (-1.5%) are steadily charting session lows this morning.

Memory stocks continue to face volatility today, with Seagate Tech (STX 761.00, +13.70, +1.83%) giving up the bulk of its early gain after delivering another clean beat-and-raise quarter, with investors focusing less on the headline Q4 results than on a Q1 outlook that points to another meaningful step-up in revenue and earnings following the stock's sharp pre-print pullback. At the midpoint, Q1 guidance implies roughly 13% sequential revenue growth and nearly 28% sequential non-GAAP EPS growth, reinforcing management's view that AI-driven mass-capacity storage demand, pricing, and product mix remain firmly in its favor rather than peaking.

Meanwhile, Sandisk (SNDK 1020.00, -76.10, -6.94%) is one of the worst-performing S&P 500 components, while Micron (MU 790.51, -30.02, -3.66%) also moves firmly lower.

SK hynix Inc.'s (SKHY 130.02, -0.16, -0.12%) Korean-listed shares plunged overnight after a relatively disappointing Q2 earnings report, adding to the volatile backdrop.