The stock market fell on Wednesday, driven mainly by rising Treasury yields and renewed inflation concerns, with the 10-year Treasury yield reaching its highest level of 5.11% since 2007.
Technology stocks were particularly affected, while higher oil prices and geopolitical uncertainty also added pressure to the market.
Overall, S&P 500 went down 0.8% to 7,706, while Nasdaq dropped 1.1% to 26,936.
Chart of the Day
Here is the one-year chart of Credo Technology (CRDO) as of September 9, 2026, when the stock was at $168.
Last quarter, Credo delivered 113% profit growth on 115% revenue growth. In the earnings release, management stated its portfolio now spans connectivity from millimeters to kilometers, and solutions across optics and copper.
In the earnings call, management said Active Electrical Cables (AEC) remained its largest business and continued to grow, but Credo’s optical business was becoming a second major growth engine. Optical DSPs, Silicon Photonics PICs and ZeroFlap Optics will be driving the company forward. Credo had already started shipping ZeroFlap Optics and Silicon Photonics products, while its first 1.6T DSP revenue remained on track for later in the fiscal year. Credo’s broader optical portfolio could address tens of billions of dollars of opportunity as AI networks move toward higher-density architectures.
CRDO is a leading stock in the Growth Portfolio and Focus List.
