Credo Technology Group is trading 11.89% down now at $249.19 as escalating U.S.-Iran tensions push oil prices higher and government bond yields to multi-year peaks.
- Reuters reported that rising yields are pressuring heavyweight technology and semiconductor stocks by reducing the present value of future profits and increasing borrowing costs.
- The broader semiconductor sector is down 2.78%, indicating a primarily macro-driven move rather than a company-specific catalyst.