Appling Time Stretch or Pitch Shift to only selected audio


I am using Cubase 6.5, on a PC.

When I snip a section of audio within a track, and apply a pitch shift or time stretch to it, it seems to apply to the whole audio file. Sometimes, like now, I am not sure whether the time stretch is really applying to the whole audio file or just the bit that I selected - because everything seems to be in time and yet in the top right-hand corner of the audio section there is the “squiggle” symbol, which I think indicates that the audio has been time stretched, or at least time warped.

I see that Time Stretch appears within the Offline Process History, but Time Warp does not.

I could keep bouncing the audio file down to ensure that each difference section references a different audio file, but obviously that is not very efficient.

Please could someone illuminate my confusion?

Thank you!