Avnet is trading at $92.63, down -7.03%, alongside semiconductor and AI-linked stocks as warnings about slowing AI development pressure chip-related shares.
- Reuters reported Nasdaq 100 futures down 1.72%, while Intel, AMD, and Marvell fell nearly 6%, 5%, and 6%, respectively.
- Rising oil prices and increased Federal Reserve rate-hike expectations are adding broader risk-off pressure.
- No new Avnet-specific negative announcement was identified.