On June 4, Nokia fell 4.48% overnight, trading at $16.06/share, with trading volume of $805,800.

On the news front, Nokia had previously surged nearly 18% from its May 29 low of $14.78 to an intraday high of $17.435 on June 3, driven by multiple positive catalysts including NVIDIA's approximately $1 billion investment to acquire roughly 3% of Nokia's equity, the GTC Taipei conference momentum, and strong first-quarter earnings growth. The rapid accumulation of short-term gains triggered significant profit-taking pressure, leading to the overnight pullback.

Meanwhile, the broader Communication Equipment sector came under selling pressure, amplifying the decline. Within the sector, Arista Networks fell 4.41%, Lumentum fell 4.16%, Applied Optoelectronics dropped 3.99%, and Ciena declined 1.03%, while Cisco bucked the trend with a 2.85% gain. The sector-wide weakness created a linkage effect that intensified selling pressure on Nokia.

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