Navitas Semiconductor stock falls 18.42% on Friday. The share price closes at $25.02 after a session drop of $5.65. The S&P 500 declines 2.6% and Nasdaq Composite drops 4.8%. The May jobs report shows 172,000 jobs added, exceeding forecasts of 80,000. Investors fear Federal Reserve rate hikes due to rising inflation.
Tap to vote and see what everyone thinks.
Why Nvidia, Intel, Marvell, and Other AI Stocks Plunged Today
Summary by ByteBrief