Weekly Market Commentary: Stocks Pressured Amidst Tech Volatility

Sunflower Bank Weekly Market Commentary: June 29, 2026

Each week, our Wealth Management team analyzes the U.S. stock market and bond market activity and news of the previous week, summarizing their findings into a weekly market update report. The key points of this week's commentary, "Stocks Pressured Amidst Tech Volatility," include:

• Large cap equity benchmarks declined last week amidst volatility in the AI space. The S&P 500 fell -1.9% while the Nasdaq 100 dropped -3.2%. Emerging markets came under particularly intense pressure. The MSCI Emerging Markets Index sank -5%, dragged down by South Korean equities. EWY (MSCI’s South Korean ETF) plummeted more than -10% and has seen moves greater than 10% in either direction for each of the last five weeks.
• Memory stocks have been some of the best performing equities over the last several months. DRAM, an ETF that tracks this sub-sector, is up almost +150% since launching in April. These stocks have experienced significant swings lately, with ten-day volatility nearly 150%.
• Focusing on fundamentals in the memory space, Micron reported blowout earnings Wednesday evening. The company beat Q3 revenue/earnings projections while providing guidance for Q4 that exceeded expectations. They further emphasized the durability and length of the cycle, now seeing the significant supply/demand imbalance running through 2028.

  
  

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