Wall Street caught its breath on June 24 as all three major indices opened higher, snapping a two-day decline that hit tech stocks especially hard. The bounce came after the Nasdaq Composite shed 2.2% in a single session, its worst day in weeks, dragging the S&P 500 down 1.4% alongside it.
The Dow Jones Industrial Average, which barely flinched during the carnage (down roughly 0.1%), joined the broader recovery as falling oil prices and declining yields gave investors a reason to step back in.
What happened during the sell-off
In the week leading up to June 24, the Nasdaq had already slipped roughly 4%, with losses accelerating as investors grew nervous ahead of Micron’s upcoming earnings report.
Micron itself became the poster child for the pain. The memory chipmaker’s stock cratered approximately 13% during the sell-off. Western Digital wasn’t far behind, dropping about 8%.
