Credo Technology Group Holding Ltd (CRDO) experienced a significant 24-hour plunge of 5.03% during overnight trading on Friday, as the semiconductor sector faced broad-based selling pressure.

The decline in Credo Technology Group was part of a wider downturn across the chip and storage sector, with major semiconductor stocks including NVIDIA, Micron Technology, Intel, Advanced Micro Devices, and Broadcom all trading lower during the same session.

Broader market indicators showed weakness, with Nasdaq 100 futures falling approximately 1% and chip-related ETFs like SOXL declining sharply, contributing to the negative sentiment across the technology and semiconductor space.