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Adam Crisafulli of Vital Knowledge cautioned that delaying tariffs for a single month offers little relief, calling it “a Band-Aid on a bullet wound” given the administration’s aggressive trade stance. The Federal Reserve’s Beige Book and recent manufacturing data have further highlighted concerns, with businesses citing rising input costs and growing uncertainty due to the tariffs.
AI Trade Unwinds as Semiconductor Stocks Decline
Another factor pressuring the market on Thursday was a sell-off in artificial intelligence-related stocks. Marvell Technology tumbled more than 16% despite reporting better-than-expected fourth-quarter earnings of 60 cents per share on revenue of $1.82 billion, surpassing analyst estimates of 59 cents per share on $1.80 billion in revenue. However, the company’s first-quarter guidance was mixed, contributing to investor unease.
The broader semiconductor sector followed suit, with ON Semiconductor, Taiwan Semiconductor, and Nvidia trading lower in premarket action. Chipmakers Broadcom and Micron Technology also declined, reflecting broader concerns about demand and supply chain disruptions tied to tariffs.
Notable Movers: Zscaler Gains, Victoria’s Secret and MongoDB Drop
Outside the chip sector, Zscaler shares rose 4% after reporting strong earnings, with adjusted earnings of 78 cents per share on revenue of $648 million, beating expectations.
Conversely, Victoria’s Secret dropped 5% after providing weaker-than-expected first-quarter revenue guidance of $1.30 billion to $1.33 billion, below analyst estimates of $1.39 billion.
MongoDB fell nearly 18% after issuing full-year guidance that disappointed Wall Street, forecasting adjusted earnings of $2.44 to $2.62 per share—well below the $3.38 consensus estimate.
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