Market Volatility: REV Group, TPI Composites, and Others Plummet Amid Tech Sell-Off

Several stocks, including REV Group, TPI Composites, AeroVironment, nLIGHT, and Axon, plummeted in the after-market session due to investors taking profits off the table ahead of the Federal Reserve's Jackson Hole symposium. The downturn was largely attributed to a significant sell-off in megacap tech and chipmaker shares. These companies have seen notable drops, dragging down the VanEck Semiconductor ETF.

Several stocks, including REV Group, TPI Composites, AeroVironment, nLIGHT, and Axon, plummeted in the after-market session on Tuesday, July 2, 2025, as investors took profits off the table ahead of the Federal Reserve's Jackson Hole symposium. The downturn was largely attributed to a significant sell-off in megacap tech and chipmaker shares, dragging down the VanEck Semiconductor ETF [1].

Gold prices also edged lower on Tuesday, with spot gold falling 0.1% to $3,325.74 per ounce by 11:40 a.m. ET (1535 GMT). The contract hit its lowest level since August 1 earlier in the session. U.S. gold futures for December delivery fell 0.3% to $3,369.60. The dollar index (.DXY) pared losses and was steady, while benchmark 10-year yields slipped. Traders are positioning in the futures market ahead of the Jackson Hole meeting, anticipating a quiet period until then [1].

The Federal Reserve is set to hold its annual symposium later this week in Jackson Hole, Wyoming, with Fed Chair Jerome Powell scheduled to speak on the economic outlook and central bank's policy framework on Friday. Traders see an 83% chance of a 25-basis-point Fed rate cut in September, according to CME's FedWatch tool. Meanwhile, U.S. President Donald Trump has continued to urge the Federal Reserve to pursue deeper rate cuts [1].

U.S. stocks dipped on Tuesday as investors geared up for Powell's comments at Jackson Hole. The Nasdaq slid more than 1% to its lowest in over two weeks as megacaps Nvidia (NVDA) and Microsoft (MSFT) lost 3.37% and 1.22%, respectively. The key event this week is the Fed's annual symposium at Jackson Hole, Wyoming, from Aug. 21-23, where Powell's comments will be scrutinized for any clues on the central bank's outlook on the economy and monetary policy [2].

The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks. Among others, the following stocks were impacted: Specialized Technology company Mirion (NYSE:MIR) fell 3.7%. Electronic Components & Manufacturing company Jabil (NYSE:JBL) fell 5%. Data & Business Process Services company Planet Labs (NYSE:PL) fell 4.9%. Electronic Components & Manufacturing company TTM Technologies (NASDAQ:TTMI) fell 4.3%. Enterprise Networking company Applied Digital (NASDAQ:APLD) fell 8.1% [3].

References:
[1] https://www.reuters.com/world/china/gold-falls-investors-await-feds-jackson-hole-conference-2025-08-19/
[2] https://www.tradingview.com/news/reuters.com,2025:newsml_L4N3UB14K:0-wall-street-falls-on-jackson-hole-jitters/
[3] https://finance.yahoo.com/news/mirion-jabil-planet-labs-ttm-193949663.html