Renewed tensions between the U.S. and Iran sent oil prices sharply higher. WTI crude rose by 9% on Monday, then rose by another 2.5% to trade at around $80/bbl. That shook down three technology stocks.
Mixed performance in software stocks saw Applovin (APP) stock fall by 12.65%. APP stock closed at $442.85 on worries that the advertising business prospects would worsen amid the war. Despite the chances of U.S. attacks on Iran, APP stock sold off. Unfortunately, Iran’s counterattacks on its neighbors are scaring investors away.
APP stock peaked at around $733 in December 2025. The related stocks include Omnicom (OMC) and The Trade Desk (TTD).
AI storage supplier Sandisk (SNDK) lost $241.95 a share, down 12.63% to close at $1,673.97. The chances are increasing that the stock peaked at near $2,400 only a month ago. On Monday, South Korea’s KOSPI triggered a trading halt for 20 minutes. At below 7,000, traders viewed KOSPI’s tumble as a ‘Black Monday’ sell-off.
Astera Labs (ALAB) fell by 12.33% to close at $362.05, for the same reason. Tech investors wanted to book this year’s gains in case the sell-off accelerated. Shares of Marvell (MRVL) fell by less (7.75%). Broadcom (AVGO), Credo (CRDO), and Nvidia (NVDA) also traded in sympathy with ALAB stock’s daily decline.
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