Memory Rout Accelerates as Micron and Sandisk Losses Double
U.S. EQUITIES · OVERNIGHT PRICE DISCOVERY
Memory rout accelerates as overnight volume builds
Updated August 24, 2026, 02:03:41 EDT (UTC−4)
20:00–04:00 EDT
Overnight tape
Observed 02:03:41 EDT
| Name | Last | Session | Volume |
|---|---|---|---|
| BABA | $114.14 | −2.85% | 1.339M |
| NBIS | $211.00 | −5.13% | 214,032 |
| MRVL | $228.07 | −4.53% | 226,266 |
| AAOI | $109.55 | −1.91% | 295,978 |
| TSLA | $361.77 | −0.88% | 302,268 |
| MRNA | $145.80 | −0.82% | 369,171 |
Broad-market check
Futures at 00:00 EDT
What changed in the latest hour
01:02–02:03 EDT
Micron widened from −1.40% to −2.88%, Sandisk from −3.53% to −5.25%, and SK hynix from −3.64% to −5.74% between the two observations.
Micron notional rose from $177.31M to $354.44M and Sandisk from $157.23M to $342.08M, leaving the selloff less dismissible as a stale thin print.
Nvidia fell from −0.62% to −1.14%; Marvell reached −4.53% and Nebius −5.13%. The first 13 most-active names were all lower.
Latest completed cash session
Friday Aug. 21 close
| S&P 500 | 7,674.37 | +0.43% | Week −1.4% |
| Nasdaq | 26,180.45 | +0.43% | Week −2.1% |
| Dow | 53,277.01 | +0.98% | Week −0.8% |
| Russell 2000 | 3,017.87 | +0.85% | Week −1.6% |
| VIX | 15.13 | −5.50% | Close |
Friday produced a broad relief rally, but the Nasdaq carried the deepest weekly loss. The overnight decline is concentrated in the same duration-sensitive chip complex.
Cross-asset pressure points
Latest verified observations
High long-end yields remain the valuation ceiling, while cheaper oil offers only partial relief. The overnight equity tape is worsening even as energy eases.
Next catalysts
All times EDT (UTC−4)
Cash-market open
Validate overnight chip weakness with volume, breadth and SMH/QQQ relative strength.
GDP + July PCE
Simultaneous growth and inflation test from BEA.
Nvidia results / call
The week’s largest single-stock index catalyst.
Jackson Hole
Policy messaging as yields remain near two-decade highs.
The cash open rejects thin overnight weakness, oil stays lower and memory shares rapidly retrace the premarket gaps.
Growing volume validates the overnight chip selloff and the weakness spreads from memory into Nvidia, AI infrastructure and QQQ.
MU $936.28; SNDK $1,531.08; SKHY $159.29; NVDA $215.33 overnight; Nasdaq futures −0.30%; cash-open SMH/QQQ breadth.
Nasdaq Futures Slip as Overnight Chip Weakness Holds
U.S. EQUITIES · OVERNIGHT PRICE DISCOVERY
Nasdaq futures slip as overnight chip weakness holds
Updated August 24, 2026, 01:02:26 EDT (UTC−4)
20:00–04:00 EDT
Overnight tape
Observed 01:02:26 EDT
| Name | Last | Session | Volume |
|---|---|---|---|
| BABA | $114.79 | −2.30% | 890,929 |
| NBIS | $214.00 | −3.78% | 99,508 |
| MRVL | $232.00 | −2.88% | 99,577 |
| AAOI | $111.47 | −0.19% | 193,981 |
| TSLA | $364.77 | −0.06% | 196,077 |
| MRNA | $146.52 | −0.33% | 285,876 |
Broad-market check
Futures at 00:00 EDT
What changed in the latest hour
00:03–01:02 EDT
The latest verified futures snapshot put Nasdaq-100 contracts down 0.30%, versus a muted evening open. S&P 500 and Dow futures were only fractionally lower.
All first 12 names on the venue’s most-active leaderboard were lower at 01:02 EDT. This is a venue sample, not consolidated breadth.
Micron, Sandisk and SK hynix held the top three overnight notionals, down 1.40%, 3.53% and 3.64%, respectively.
Latest completed cash session
Friday Aug. 21 close
| S&P 500 | 7,674.37 | +0.43% | Week −1.4% |
| Nasdaq | 26,180.45 | +0.43% | Week −2.1% |
| Dow | 53,277.01 | +0.98% | Week −0.8% |
| Russell 2000 | 3,017.87 | +0.85% | Week −1.6% |
| VIX | 15.13 | −5.50% | Close |
Friday produced a broad relief rally, but the Nasdaq carried the deepest weekly loss. The overnight decline is concentrated in the same duration-sensitive chip complex.
Cross-asset pressure points
Latest verified observations
High long-end yields remain the valuation ceiling, while easing oil offers only partial relief. Alibaba’s equity-funded AI buildout adds a capital-cost warning before Nvidia’s spending and demand signal.
Next catalysts
All times EDT (UTC−4)
Cash-market open
Validate overnight chip weakness with volume, breadth and SMH/QQQ relative strength.
GDP + July PCE
Simultaneous growth and inflation test from BEA.
Nvidia results / call
The week’s largest single-stock index catalyst.
Jackson Hole
Policy messaging as yields remain near two-decade highs.
Cash-market breadth rejects thin overnight weakness, oil stays lower and chip losses stabilize before Nvidia.
Nasdaq futures confirm the memory-led decline and Alibaba’s dilution shock broadens into a valuation reset for capital-intensive AI equities.
Nasdaq futures at −0.30%; MU/SNDK/SKHY gaps; BABA versus $114.79 overnight; Nvidia versus its $214.72 Friday close; SMH/QQQ breadth.
Alibaba Dilution Joins Memory Selloff in Overnight Trade
U.S. EQUITIES · OVERNIGHT PRICE DISCOVERY
Alibaba dilution joins the overnight chip selloff
Updated August 24, 2026, 00:03:17 EDT (UTC−4)
20:00–04:00 EDT
Overnight tape
Observed 00:03:17 EDT
| Name | Last | Session | Volume |
|---|---|---|---|
| BABA | $114.79 | −2.30% | 890,929 |
| NBIS | $214.00 | −3.78% | 99,508 |
| MRVL | $232.00 | −2.88% | 99,577 |
| AAOI | $111.47 | −0.19% | 193,981 |
| TSLA | $364.77 | −0.06% | 196,077 |
| MRNA | $146.52 | −0.33% | 285,876 |
Broad-market check
Futures at 20:19 EDT
What changed in the latest hour
23:00–00:03 EDT
Alibaba raised HK$80B ($10.21B) for AI spending. Its Hong Kong shares fell as much as 10%; the U.S. ADR ranked fourth by overnight notional, down 2.30%.
All first 12 names on the venue’s most-active leaderboard were lower at the latest observation. This is a venue sample, not consolidated breadth.
Micron, Sandisk and SK hynix held the top three overnight notionals, down 1.40%, 3.53% and 3.64%, respectively.
Latest completed cash session
Friday Aug. 21 close
| S&P 500 | 7,674.37 | +0.43% | Week −1.4% |
| Nasdaq | 26,180.45 | +0.43% | Week −2.1% |
| Dow | 53,277.01 | +0.98% | Week −0.8% |
| Russell 2000 | 3,017.87 | +0.85% | Week −1.6% |
| VIX | 15.13 | −5.50% | Close |
Friday produced a broad relief rally, but the Nasdaq carried the deepest weekly loss. The overnight decline is concentrated in the same duration-sensitive chip complex.
Cross-asset pressure points
Latest verified observations
High long-end yields remain the valuation ceiling. Alibaba’s equity-funded AI buildout adds a visible capital-cost warning as the market waits for Nvidia’s spending and demand signal.
Next catalysts
All times EDT (UTC−4)
Cash-market open
Validate overnight chip weakness with volume, breadth and SMH/QQQ relative strength.
GDP + July PCE
Simultaneous growth and inflation test from BEA.
Nvidia results / call
The week’s largest single-stock index catalyst.
Jackson Hole
Policy messaging as yields remain near two-decade highs.
Cash-market breadth rejects the thin overnight weakness, Alibaba absorbs the placement and chip losses stabilize before Nvidia.
Alibaba’s dilution shock joins memory weakness and broadens into a valuation reset for capital-intensive AI equities.
BABA versus the Hong Kong placement reaction; MU/SNDK/SKHY gaps; Nvidia versus $214.72 Friday close; SMH/QQQ breadth.
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