Marvell Technology Group is trading 5.6% down at $164.91 as part of a sharp semiconductor-sector selloff driven by weak SK Hynix earnings and rising concerns over chip competition in China.
- Broader tech and AI names are under pressure as investors reassess the sustainability of AI-related capital expenditure.
- Geopolitical tensions and an upcoming Federal Reserve decision are adding to risk-off sentiment surrounding high-valuation chip stocks.