Marvell and Lumentum Drop as Coinbase and Circle Also Fall

Marvell Technology and Lumentum shares sank Monday as U.S. technology stocks sold off, while Coinbase and Circle also declined alongside the broader market.

Of the five crypto-linked stocks listed, Coinbase fell 3.98%, Circle lost 0.63%, BitMine dropped 3.17% and SharpLink fell 3.71%. Strategy rose 0.19%.

Marvell fell 12.72%, extending its three-session loss to 32%, after announcing it would acquire Lumentum. Lumentum shares dropped 18.59%. The Nasdaq 100 entered a technical adjustment, while Intel fell 8.80%.

Advanced Micro Devices dropped 7.52%, Micron Technology fell 5.78% and Nvidia declined 1.26%. Ciena lost 11.34%, and Applied Optoelectronics fell 9.49%. Seagate Technology dropped 7.88%, Western Digital fell 7.52% and SanDisk lost 6.59%.

Bitcoin (BTC) traded at $76,707, down 2.06% over 24 hours, while Ether (ETH) was at $2,249.83, down 1.16%, as of 7:01 p.m. ET Monday (00:01 UTC Tuesday).