CIEN is trading at $551.23 (-5.20%) as hotter-than-expected inflation data dampens hopes for Federal Reserve rate cuts and triggers a broader tech selloff.
- April CPI rose to 3.8% (exceeding the 3.7% forecast), dragging the Nasdaq Composite down 1.82% as investors recalibrate interest rate expectations.
- No company-specific news was found for Ciena; the decline aligns with market-wide pressure from inflation data and rising oil prices linked to geopolitical tensions.