Cadence Design Systems is trading at $324.00 (-4.36%) as broader risk-off selling pressures growth-oriented technology stocks.
- The Nasdaq Composite is down 0.62%, weighing on technology shares.
- Middle East tensions lifted oil prices and Treasury yields, pressuring growth stocks.
- No fresh company-specific announcement was identified; recent Q2 news was positive, including raised guidance and an $8.1 billion backlog.