EL7.AI
StocksMediumUpdated•Originally published 16 July 2026•Updated 16 July 2026•
2 min read

Nasdaq 100 Selloff Accelerates in Final Hour as SanDisk Plunges 13%

Key Facts

1The Nasdaq 100 fell more than 1% driven by a broad selloff in semiconductor stocks.
2SanDisk shares sank 13% amid the memory-chip selloff impacting the sector.
3UnitedHealth's blowout quarter lifted the Dow Jones despite the broader market decline.

Amid intensifying selling pressure on the technology sector, the Nasdaq 100 index saw its decline accelerate sharply during the final hour of trading, falling by more than 1%. According to reports, SanDisk shares led the downturn with a 13% plunge, reflecting heightened concerns regarding the memory-chip industry. Conversely, blowout quarterly results from UnitedHealth provided essential support to the Dow Jones, preventing a broader systemic slide across major indices.

The semiconductor selloff comes amid growing fears of slowing global demand, with peers such as Micron Technology and Western Digital facing similar headwinds in recent sessions. Per market data, SNDK closed at $1615 on July 15, 2026, while UNH showed resilience by closing at $418.52 on the same date. This performance highlights a rotation toward healthcare sectors which are demonstrating greater stability compared to volatile tech growth stocks.

Traders are now monitoring technical support levels for the Nasdaq 100 following its 1% slide, with a focus on SNDK which hit a daily low of $1478.5 (close July 15, 2026). Looking ahead, the market is awaiting the release of the Federal Reserve's Monetary Policy Report, which may offer fresh insights into interest rate trajectories and their subsequent impact on financing costs for mega-cap tech firms.