U.S. stocks moved lower intraday on Sept. 10 after the release of producer price index, or PPI, data, which pushed up expectations that the Federal Reserve could raise rates, according to market data from BIT (Bit.com). The three major indexes were all in the red, with the Dow Jones Industrial Average down 0.44%, the Nasdaq down 1.26%, and the S&P 500 down 0.64% during the session.
Selling extended across optical module, storage, and crypto-related stocks. In optical names, Applied Optoelectronics fell 3.66%, Lumentum lost 3.26%, Coherent dropped 3.19%, Marvell Technology declined 2.51%, and Nokia slipped 2.83%. Storage stocks also weakened, with Micron Technology down 4.32%, SanDisk off 4.07%, Western Digital down 5.15%, and Seagate Technology losing 3.47%.
Among crypto-related stocks, Circle fell 3.15%, Bullish lost 1.73%, Gemini Space Station dropped 1.62%, Bitmine Immersion Technologies declined 1.34%, and SharpLink fell 1.17%.
U.S. stocks traded lower intraday on Sept. 10 after the release of PPI data boosted expectations for a Federal Reserve rate hike, according to market data from BIT (Bit.com). The Dow Jones Industrial Average fell 0.44% during the session, the Nasdaq dropped 1.26%, and the S&P 500 lost 0.64%.
Optical module, storage, and crypto-related stocks declined broadly
Losses were seen across optical module, storage, and crypto-related shares. Applied Optoelectronics (AAOI) fell 3.66%, Lumentum (LITE) lost 3.26%, Coherent (COHR) dropped 3.19%, Marvell Technology (MRVL) declined 2.51%, and Nokia (NOK) slipped 2.83%.
Among storage names, Micron Technology (MU) fell 4.32%, SanDisk (SNDK) dropped 4.07%, Western Digital (WDC) lost 5.15%, and Seagate Technology (STX) declined 3.47%.
Crypto-linked stocks also moved lower. Circle (CRCL) fell 3.15%, Bullish (BLSH) lost 1.73%, Gemini Space Station (GEMI) dropped 1.62%, Bitmine Immersion Technologies (BMNR) declined 1.34%, and SharpLink (SBET) fell 1.17%.
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