US Stock Market Move | Optical communication concept stocks fell broadly, with Nokia Oyj Sponsored ADR (NOK.US) dropping over 10%.

On Monday, optical communication concept stocks fell broadly. Nokia Oyj Sponsored ADR (NOK.US), Corning Inc (GLW.US), and Coherent (COHR.US) dropped over 10%, Lumentum (LITE.US) fell over 8%, Applied Optoelectronics (AAOI.US) and Credo Technology (CRDO.US) declined over 7%, while POET Technologies (POET.US) and Marvell Technology, Inc. (MRVL.US) dropped over 6%. On the news front, the three AI giants rarely called in unison for "slowing down frontier model development," triggering market concerns over reduced capital expenditure in computing infrastructure, with optical communications bearing the brunt as the front line of the AI hardware chain. However, multiple analysts believe the current statements remain at the "verbal level," with no actual signals of capex cuts or order downgrades yet materializing.