U.S. premarket storage and semiconductor stocks slide, led by Western Digital’s 7.30% drop
July 7 premarket trading showed broad weakness across storage, semiconductor, optical communications and AI-linked stocks, with Western Digital, Micron, Marvell, Broadcom and NVIDIA among names trading lower before the U.S. open.
U.S. premarket trading on July 7 showed broad weakness across hardware-focused technology shares, with storage stocks leading the declines. BlockBeats, citing BIT(bit.com) market data, reported Western Digital (WDC) down 7.30%, Seagate (STX) off 5.97%, Micron (MU) lower by 5.34% and SanDisk (SNDK) down 5.01%. Semiconductor names also fell, including Lam Research (LRCX) 5.56%, Applied Materials (AMAT) 5.48%, Marvell (MRVL) 4.68%, KLA (KLAC) 4.50%, Arm (ARM) 4.13%, AMD 3.85%, ASML 3.74% and Intel (INTC) 3.54%. Separate MSX.COM data also showed AI-related names under pressure, with MU down more than 5.43%, MRVL off more than 4.73%, Broadcom (AVGO) lower by 1.92% and NVIDIA down 1.47%, while saying the platform lists hundreds of RWA tokens tied to U.S. stocks and ETFs.
- premarket trading: Stock trading that takes place before regular exchange hours begin.
- RWA: Real-world asset, typically represented by a token linked to an off-chain asset.
- tokenized stock exposure: Crypto-linked product designed to track a stock’s price or provide blockchain-based exposure to listed equities.