Semiconductor stocks led declines among mega-cap equities on Tuesday, with SanDisk falling 9.82% and Marvell Technology down 9.31%, while Intel dropped 7.5%. The declines extended a broader retreat in chip-related shares amid weaker sector sentiment.
Large-cap tech names also retreated, with Fabrinet leading losses at 21.37% despite reporting fourth-quarter earnings that topped estimates. Cerebras Systems fell 14.32%, Semtech declined 13.24%, and FormFactor dropped 12.59%.
Mid-cap tech stocks extended the downturn, with 21Vianet Group down 17.17% after missing second-quarter earnings and issuing weak guidance. Aehr Test Systems fell 16.47%, and MaxLinear declined 14.9%.
Small-cap movers were mixed, with Flexsteel Industries surging 20.19% following better-than-expected fourth-quarter results and improved guidance. MVLL dropped 18.43%, MULL fell 15.99%, INTW declined 14.74%, while IMC Rare Earths rose 11.06%.
