Retail and Tech Stocks Slide After Weak Earnings Outlooks

Deckers Outdoor led the downturn, with shares slipping 7% to $79.15. Management attributed the revised outlook to an increasingly promotional environment within the footwear industry, which has tightened margins for major players. Similarly, student lender Sallie Mae saw its stock decline 5% to $21.76 after reporting elevated charge-offs during the most recent quarter.

Technology and energy sectors faced parallel pressure. Western Digital struggled to maintain momentum as investors pivoted away from AI-related equities, pushing the stock down 5% to $336.50. Meanwhile, Bloom Energy dropped 5% to $206.21, hampered by negative cash flow as the company continues to burn through capital to fund its aggressive expansion strategy.