Marvell Technology is trading 11.5% down at $12.89 as part of a broad semiconductor and AI-stock selloff, with chipmakers under pressure due to concerns regarding AI capex and rising competition in China.
- The decline aligns with a 4.45% drop in the broader semiconductor sector, despite a lack of fresh, stock-specific catalysts today.
- The move comes amid a wider technology slump tied to macroeconomic uncertainty and investor jitters ahead of the upcoming Federal Reserve meeting.