US stock market closed with the Nasdaq and S&P 500 suffering an “A-kill”; Intel plunged another 9%, while optical communications leaders MRVL and LITE both tumbled sharply.

On November 3, BIT Stock Platform data showed that both the Nasdaq Composite and the S&P 500 plunged into “A-kill” territory at the U.S. market close; the Nasdaq-100 Index officially entered technical correction territory. On the same day, Intel (INTC) shares tumbled 8.80% (note: earlier reports cited a 9% intraday drop—this figure reflects the final closing price). Meanwhile, Marvell Technology (MRVL), a leading optical module company, plummeted 12.72% after announcing its acquisition of Lumentum (LITE), a top-tier optical chip maker; MRVL has fallen 32% over three trading days. Lumentum slid 18.59% over the same period. Semiconductor & memory, optical communications, and crypto-related stocks all posted broad-based weakness.

Breakdown by sector:
• Semiconductor & memory: Seagate Technology (STX) fell 7.88%, Western Digital (WDC) dropped 7.52%, SanDisk (SNDK) declined 6.59%, Micron Technology (MU) slid 5.78%, NVIDIA (NVDA) edged down just 1.26%, and Advanced Micro Devices (AMD) fell 7.52%.
• Crypto-related stocks were mixed: MicroStrategy (MSTR) rose modestly by 0.19%, while most others declined—Coinbase (COIN) fell 3.98%, Circle (CRCL) dropped 0.63%, BitMine (BMNR) declined 3.17%, and SharpLink (SBET) slid 3.71%.
• Optical communications suffered especially steep losses: FOTO (FOTO) fell 8.08%, Applied Optoelectronics (AAOI) dropped 9.49%, Coherent (COHR) declined 4.93%, Ciena (CIEN) plunged 11.34%, Fabrinet (FN) fell 3.85%, and AXT (AXTI) slid 12.46%.