🔴 Fabrinet is trading 11.73% down today as tech and AI-infrastructure stocks face pressure

Fabrinet is trading at $296.00, down 11.73%, amid broad pressure on technology and AI-infrastructure stocks.

• Reuters reported chip and data-center-related stocks weighed on the Nasdaq amid concerns about potential data-center restrictions following the midterm election results.
• The Nasdaq was down 4.22% and the S&P 500 was down 2.51%.
• Fabrinet’s November 2 earnings and outlook were strong, providing no clear company-specific explanation for the drop.