Wireless stocks have come under considerable selling pressure over the course of morning trading on Monday, contributing to the weakness visible in the broader markets.
The losses by wireless stocks have resulted in a 1.9 percent drop by the NYSE Arca Wireless Index, which has fallen to a one-month intraday low.
Vivo Participacoes (VIV) is turning in one of the sector's worst performances, with the Brazilian wireless carrier currently down by 4.5 percent. At its low for the session, Vivo was at its worst intraday level in nearly a month.
Shares of Vodafone (VOD) and Nokia (NOK) have also shown notable moves to the downside, falling by 3.7 percent and 3.1 percent, respectively.
Vodafone has fallen to a two-month intraday low, while Nokia has dropped to its lowest intraday level in almost three months.
SK Telecom (SKM) and Qualcomm (QCOM) are also posting significant losses, contributing to the weakness in the sector.
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