Sector Update: Tech Stocks Decline Late Afternoon

MT Newswires Live11-14 04:42

Tech stocks were lower in late Wednesday afternoon trading, with the Technology Select Sector SPDR Fund (XLK) easing 0.1% and the SPDR S&P Semiconductor ETF (XSD) falling 1.9%.

The Philadelphia Semiconductor index dropped 1.6%.

In corporate news, Zeta Global (ZETA) shares tumbled more than 29% after Culper Research disclosed a short position, saying the company faces "potentially devastating regulatory action" over some practices.

Meta (META) shares were shedding 0.4%. US District Judge James Boasberg narrowed the case brought by the Federal Trade Commission against Meta a scaled-back trial over its alleged dominance of social networking.

Apple (AAPL) is planning to launch a wall-mounted tablet with an AI assistant to navigate apps, Bloomberg reported. Its shares rose 0.7%.

Amazon.com (AMZN) is set to close its free, ad-supported streaming service Freevee and fold it into the subscription-based Prime Video platform, Bloomberg reported. Amazon shares gained 2.5%.

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