On September 10, Western Digital fell 3.17% in pre-market trading, trading at $466.21/share, with turnover of $14.2625 million, as the storage chip sector pulled back broadly following three consecutive sessions of losses across major U.S. indices.
On the news front, the U.S. Treasury announced a bond buyback operation of up to $6 billion, which instead of calming markets triggered further selling, with the 10-year Treasury yield surging to its highest level since November 2023. The three major indices all declined on September 9, with the Dow falling 0.77%, the S&P 500 losing 0.48%, and the Nasdaq dropping 0.64%. Storage chip stocks declined broadly in pre-market trading, with SK Hynix falling over 3%, while SanDisk and Micron Technology each lost more than 1%. The sector pullback follows a strong rally in recent sessions fueled by OpenAI's release of GPT-6 Astra, which had driven expectations for surging storage demand, and record Q2 global DRAM market revenue of $147.024 billion, up 55.9% quarter-over-quarter.
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