Analog Devices Inc is trading 5% down at $407.23 following a sharp risk-off move across the technology sector.
- The Nasdaq Composite has dropped 3.85% as stronger-than-expected May jobs data reduced expectations for near-term interest rate cuts.
- Growth stocks are facing significant pressure from valuation compression amid a broader market downturn.
- No company-specific catalysts were identified, suggesting the decline is driven entirely by sector-wide weakness.