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Why Navitas Semiconductor Stock Is Plummeting Today

TheMotleyFool

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Why Navitas Semiconductor Stock Is Plummeting Today: https://g.foolcdn.com/editorial/images/827102/gettyimages-83077315.jpg

Navitas Semiconductor (NASDAQ: NVTS) stock is deep in the red Tuesday. The company's share price was down 9.1% as of 3 p.m. ET. Meanwhile, the S 500 (SNPINDEX: ^GSPC) was down 0.3%, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) had slipped 0.2%. Navitas shares had been down as much as 12% early in trading.

Navitas is falling today due to news that the Trump administration has taken a big step to secure a trade deal with China. The company's share price is also under pressure due to investors betting that a cut in interest rates this week is no longer in the cards.

Image source: Getty Images.

Source Fool.com