Micron, SanDisk and Western Digital fell 5%-7% as rising U.S. Treasury yields pressured equity valuations, particularly in parts of the market that had rallied strongly in 2026. Higher yields tend to raise the cost of capital and increase discount rates on future earnings, which can weigh on stocks whose valuations depend heavily on longer-term profit expectations. The move was described as a valuation reset for memory and storage names following their earlier gains.