Shares of major technology companies led declines on Friday, with Marvell Technology Group and CrowdStrike Holdings each falling more than 6% as the sector faced broad-based selling pressure.
Marvell Technology Group’s stock declined 6.89%, while CrowdStrike Holdings dropped 7.1%, underperforming in the mega-cap segment. Other large technology names also retreated, including Palo Alto Networks, which fell 5.95%, and Arista Networks, which declined 2.13%. Alibaba bucked the trend, rising 2.19%.
In the large-cap space, PayPal Holdings led declines after reports emerged that a $50 billion pursuit by Advent International and Stripe had been abandoned, sending the stock down 11.36%. BioNTech SE fell 8.41%, while Iris Energy declined 8.96%. Affirm Holdings was a notable gainer, surging 9.23% following an earnings beat and strong guidance.
Mid-cap stocks saw mixed performance. Elastic surged 17.39% after reporting a strong first-quarter beat and upbeat outlook, while Klarna gained 5.63%. Bitfarms declined 6.33%.
In the small-cap segment, PagerDuty rose 10.77% despite modest guidance, while IMC Rare Earths fell 6.19%.
