Nokia (NOK) shares fell roughly 10% on Monday, reaching an intraday low of €8.712 as a broad technology sell-off pressured AI-linked stocks across global markets.

The stock opened at €9.24 and quickly moved lower, trading around €8.722 by mid-session. The decline erased nearly a week of gains in a single day. No company-specific earnings release, analyst downgrade, or corporate announcement was identified as the trigger for the move.

The Nasdaq fell 1.8% on the day, while the S&P 500 declined 0.7% and the Dow Jones slipped 0.2%. Nokia’s dual listing and its American depositary receipt (ADR) on the New York Stock Exchange connect the stock closely to U.S. technology-market conditions, leaving the Helsinki-listed shares exposed to sell-offs in American equities.

Nokia has increasingly been viewed as an AI infrastructure company because of its optical and IP networking portfolio and data-centre connectivity offerings. That narrative helped propel the stock from a 52-week low of €3.813 to a peak of €14.995. It has also made the shares more sensitive to a rotation out of AI-exposed equities. Monday’s decline follows several sharp profit-taking episodes after Nokia’s AI-fuelled rallies this year.

India Business Adds Pressure

Comments from the head of Nokia’s India business added a company-specific concern. The executive highlighted high local component costs and challenges related to supply-chain localization, raising questions about whether large orders in the Indian market could face delays.

The comments overshadowed news of a new AI-based security deployment and contributed to concerns among some traders that the stock had moved ahead of its near-term fundamentals.

Peer telecom-equipment and networking companies also faced pressure across European and U.S. exchanges on Monday, indicating that the move was more sector-driven than specific to Nokia.

Year-to-Date Gain Remains Strong

Despite Monday’s decline, Nokia remains up nearly 74% year to date in 2026. The stock has climbed from its 52-week low of €3.813 to its high of €14.995, leaving longer-term holders with a substantial gain cushion after the single-day drop.

Nokia’s balance sheet provides room for continued investment in AI, cloud, and network infrastructure even if the broader cycle weakens. However, weaker cash generation, restructuring charges, and potential supply bottlenecks that delay large orders remain risks that could contribute to uneven future results.

The company’s average daily trading volume is around 85 million, while its technical sentiment signal is rated “Strong Buy.” Nokia’s market capitalization is approximately $61.81 billion.

Traders are watching the stock’s technical setup ahead of Tuesday’s session, including whether buyers return at current levels or selling pressure continues. The next session may also help distinguish whether Monday’s move remains aligned with the broader technology-sector retreat or develops into a more Nokia-specific reaction.

Source: CoinCentral