US stocks opened under collective pressure, with the storage sector taking the first hit.

US stocks weakened across the board at the open, with the Nasdaq falling over 1%, leading the three major indices. The previously hot storage chip sector saw a collective plunge, with Micron and SanDisk dropping over 6%, and multiple other chip stocks also weakening simultaneously.

ON Semiconductor fell over 17%, triggered by market disagreement over a large-scale acquisition plan. Although the semiconductor sector has ample long-term potential, short-term profit-taking has concentrated, leading to a sentiment cooling and correction in the sector. #SOXL $SOXL