Sector Update: Tech Stocks Fall Wednesday Afternoon

MT Newswires Live11-21 02:55

Tech stocks were in the red Wednesday afternoon, with the Technology Select Sector SPDR Fund (XLK) decreasing 1% and the SPDR S&P Semiconductor ETF (XSD) falling 1.3%.

The Philadelphia Semiconductor index dropped 2%.

In corporate news, Keysight Technologies (KEYS) shares jumped 5.7% after the company issued an upbeat fiscal Q1 outlook and reported better-than-expected results for the preceding three-month period.

Snowflake (SNOW) is in talks with Anthropic about a potential partnership, The Information reported. Snowflake shares were down 1.3%.

GlobalFoundries (GFS) and the US Department of Commerce on Wednesday announced a direct funding award of up to $1.5 billion to the company under the CHIPS and Science Act. GlobalFoundries shares were falling 3%.

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