Wall Street opens the session with significant declines. US100 and US500 are losing around -1.5%. The US dollar is weakening. VIX is soaring almost 8% as investors hedge the risk of a deeper equity markets correction.
- Tesla has lost over 40% from its December highs and is down another 5% today; the company’s EV sales in Germany dropped by more than 76% year-over-year. Baird analysts have downgraded the stock.
- Patrick Harker from the Fed points to higher inflation risks, while sentiment among American businesses and consumers is declining.
- US jobless claims came in slightly lower than expected; economic productivity was revised upward, while labor costs were revised downward—however, the market has largely “ignored” this data.
- In the chip sector, Broadcom (AVGO.US) shares are down more than 5%, while Marvell (MRVL.US) shares are plunging nearly 20% following disappointing earnings. Nvidia and TSMC are also down more than 3%.
- In the banking and financial sector, the biggest losers include Morgan Stanley, Goldman Sachs, and Bank of America.
- Alibaba is gaining nearly 2% after releasing a new AI model, which the company claims outperforms DeepSeek R-1 and the latest version of ChatGPT.
- Investor sentiment on Wall Street is weakening again today, with the Nasdaq nearing a retest of its recent local low around 20,000 points. Investors fear that the stock market correction could extend further, while concerns about inflation—fueled by the trade war—are dampening both consumer and business sentiment.
- Weak results from Marvell Technologies, a company expected to benefit from AI infrastructure demand, are also dragging down shares of AI giants such as Nvidia and Broadcom.
Nvidia and Microsoft are losing ground, but the semiconductor sector is taking the hardest hit. Source: xStation5
US100 (D1 Interval)
The Nasdaq (US100) contract is down nearly 1.5% today, testing the lower boundary of its rising price channel. The index failed to reclaim the EMA200.
Source: xStation5
Company News
- Tesla’s price target was downgraded by Baird, with analysts citing weak sales data in Tesla’s key regions during the quarter.
- ALX Oncology shares are rising, as Jefferies upgraded the biotech stock from “hold” to “buy,” citing “limited theoretical downside.”
- Brown-Forman shares (Jack Daniel’s producer) are down 2% after Morgan Stanley downgraded the stock from “equal-weight” to “underweight,” forecasting that sales and profit growth will remain “muted” due to weak alcohol demand, market share losses, tariff risks, and an oversupply of American whiskey.
- Burlington Stores shares are up 11% after the company reported better-than-expected Q4 results in terms of comparable sales and earnings.
- JD.com shares jumped nearly 2% as the Chinese e-commerce giant unveiled a new AI model and reported quarterly earnings that exceeded analysts’ estimates.
- MongoDB shares plunged nearly 17%, as the company issued disappointing guidance for the current year, while Marvell Technologies’ revenue expectations proved too high, triggering a broad tech sector sell-off.
Marvell with the weakest session since September 2025
Marvell shares have recorded their biggest drop in more than nine years after the company issued a sales forecast that, while in line with analysts’ average expectations, fell short of the most optimistic projections. The company announced that its revenue for the fiscal first quarter, ending in April, is expected to reach approximately $1.88 billion, whereas the highest estimates had anticipated a figure closer to $2 billion.
Marvell expects earnings per share in the first fiscal quarter to range between 56 and 66 cents, while analysts had projected an average of 60 cents. In the fourth quarter, the company reported earnings of 60 cents per share, surpassing market forecasts, while its revenue grew by 27% year-over-year to $1.82 billion, slightly exceeding prior estimates of $1.8 billion.
Marvell specializes in designing semiconductor chips for major technology firms, which utilize them in data centers. The market pessimism did not affect Marvell alone. Another semiconductor giant, Broadcom, also saw its shares decline ahead of its earnings report scheduled for Thursday.
MRVL.US (D1 Interval)
Marvell shares have now lost nearly 50% from last year’s highs and are trading well below the EMA200.
Source: xStation5
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