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Dow futures fell as oil prices and Treasury yields jumped. AI chip plays Applied Materials, Nvidia and Cerebras retreated. The Trump-Xi summit is over.
The AI optics trade is taking a breather. Shares of Applied Optoelectronics (NASDAQ:AAOI) are down 14% in midday trading, while Coherent (NYSE:COHR) is off 10% and Lumentum (NASDAQ:LITE) is sliding 7%. The selloff is sector-wide. Ciena (NYSE:CIEN) is lower by 10% and Fabrinet (NYSE:FN) is down 8%, confirming this is correlated basket selling rather than ... Applied Optoelectronics Crashes 14%, Coherent Slides 10%, Lumentum Falls 7% as Optics Trade Cools