Tech stocks skid as Trump's aggravation with China, Marvell earnings lead to Friday pullback

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Tech stocks skid as Trump's aggravation with China, Marvell earnings lead to Friday pullback

//stocks-investing.news-articles.net/content/202 .. na-marvell-earnings-lead-to-friday-pullback.html

Published in Stocks and Investing on Friday, May 30th 2025 at 11:41 GMT by FXStreet
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US tech stocks are shedding weight on Friday following several negative news stories. The NASDAQ Composite has given up as much as 0.9%, while the Dow Jones Industrial Average (DJIA) is slightly positive.

On May 30, 2025, tech stocks experienced a significant decline, driven by heightened tensions between the U.S. and China, as well as disappointing earnings from Marvell Technology. The Nasdaq 100 fell by 1.2%, reflecting broader market concerns over President Trump's aggressive stance towards China, which included new tariffs and restrictions on technology exports. Marvell Technology's stock plummeted 10% after reporting weaker-than-expected quarterly results and providing a gloomy outlook for the upcoming period, further exacerbating the sell-off in the tech sector. Investors were also on edge awaiting the release of the U.S. jobs report, which could influence future Federal Reserve interest rate decisions.

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