U.S. markets see sharp declines in Nasdaq and S&P, with MRVL and LITE plummeting

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INTC
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MRVL
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LITE
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STX
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The Fear and Greed Index dropped sharply as U.S. markets closed on November 3 amid a correction in the Nasdaq and S&P. Intel fell 9%, while Marvell dropped over 12% following its announcement of the Lumentum acquisition; Lumentum slid 18% in response. The semiconductor, storage, and optical communication sectors all experienced broad declines during the correction.

Huo Xing Finance reports that on November 3, according to data from the BIT stock platform, the Nasdaq and S&P 500 closed with an "A kill," as the Nasdaq 100 entered a technical correction. Intel (INTC) fell another 9%. After Marvell, a leader in optical modules, announced its acquisition of Lumentum, a leader in optical chips, MRVL dropped over 12%, declining 32% over three days, while LITE plunged 18%. Broad declines were seen across semiconductor and storage, optical communications, and cryptocurrency-related sectors. Semiconductor and Storage: Seagate Technology (STX) fell 7.88%; Western Digital (WDC) fell 7.52%; SanDisk (SNDK) fell 6.59%; Micron Technology (MU) fell 5.78%; NVIDIA (NVDA) fell 1.26%; Intel (INTC) fell 8.80%; Advanced Micro Devices (AMD) fell 7.52%. Cryptocurrency-Related: MicroStrategy (MSTR) rose 0.19%; Coinbase (COIN) fell 3.98%; Circle (CRCL) fell 0.63%; BitMine (BMNR) fell 3.17%; SharpLink (SBET) fell 3.71%. Optical Communications: Foton (FOTO) fell 8.08%; Marvell (MRVL) fell 12.72%; Applied Optoelectronics (AAOI) fell 9.49%; Lumentum (LITE) fell 18.59%; Coherent (COHR) fell 4.93%; Ciena (CIEN) fell 11.34%; Fabrinet (FN) fell 3.85%; AXT (AXTI) fell 12.46%.

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