On September 28, Credo Technology Group Holding Ltd fell 5.12% in regular trading, trading at $200.3 per share, with turnover of $224 million. The decline came as semiconductor and optical communication stocks experienced a sweeping selloff across U.S. markets.

On the news front, the broader semiconductor and optical communication sectors were hit by multiple headwinds converging simultaneously. Qualcomm and ARM each dropped over 7%, Intel and SK Hynix fell more than 4%, while Credo declined alongside peers. The selloff was amplified by heavy profit-taking after the optical communication sector had accumulated substantial gains over prior months, with high-level holders rushing to exit as negative catalysts stacked up. Additional pressure came from concerns around a proposed U.S. Senate bill (S.5548) targeting Chinese optical module procurement and rumors of Oracle AI data center delivery delays, which weighed on AI infrastructure spending expectations. SK Hynix governance concerns further rattled the storage chip space, creating cross-market resonance.

Within the Semiconductors sector, NVIDIA bucked the trend rising 3.3%, while Intel fell 4.35%, Advanced Micro Devices dropped 3.04%, Micron Technology declined 2.09%, and Broadcom edged down 0.1%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)