Western Digital

The S&P 500 retreated from its record as pressure in large technology names outweighed selective strength in memory stocks and Reddit’s index-inclusion surge. Softer retail sales, weaker consumer sentiment and worsening disruption near Hormuz left traders reassessing growth, inflation and rate expectations at the same time.

Sandisk and Western Digital fell sharply in pre-market trading even after strong quarterly results, as guidance failed to clear high investor expectations. The move is prompting crypto traders to ask whether cooling AI momentum, rising gold and bitcoin’s hold above $64,000 point to a broader shift in capital flows.