US tech stocks extend losses as Nasdaq falls 1%

Major US technology companies closed another day of losses on the markets, following an October marked by declines. The Nasdaq, the sector's benchmark index, fell 1% in its latest session and maintains its downward trend. Despite opening Monday with a slight rebound, most major US companies ended in the red. Nvidia closed down 1.26%, while Apple, which reported quarterly results yesterday, fell 1.83%. The Lumentum and Marvell merger also weighed on the Nasdaq. Amid fears of an artificial intelligence bubble bursting, Marvell shares dropped nearly 13%, while Lumentum shares plunged 18.5%.