US Stock Market Movement: SanDisk Plunged on September 28th Due to Pause in AI Training, Weakening Chips, and High-Level Pullback

SanDisk September 28 Major Drop Explained

Keywords: AI training suspension, weaker chips, high-level pullback

1. On September 28, OpenAI announced the suspension of training for its latest artificial intelligence model. Related artificial intelligence safety incidents increased, and SanDisk weakened in tandem with other AI and storage stocks.

2. On September 28, the Nasdaq 100 Index dropped more than 1%, and the S&P 500 Index fell 0.5%. Oil prices rose, and the yield on long-term US Treasury bonds climbed to new highs, putting pressure on semiconductor stocks with high valuations.

3. On September 28, Micron Technology declined ahead of its September 30 earnings report, Credo, Astera Labs and other chip stocks dropped pre-market, causing sector linkage and dragging SanDisk down.

4. As of September 28, SanDisk has surged 611.52% year-to-date. In the absence of any new major negative news from the company, the stock price faces pressure from high-level profit-taking and a technical pullback.

(Disclaimer: This content is generated by AI technology summarizing publicly available information, for reference only and does not constitute investment advice.)