Sector Update: Tech Stocks Fall Tuesday Afternoon

MT Newswires Live12-18

Tech stocks were in the red Tuesday afternoon, with the Technology Select Sector SPDR Fund (XLK) decreasing 0.6% and the SPDR S&P Semiconductor ETF (XSD) falling 1.6%.

The Philadelphia Semiconductor index dropped 1.5%.

In corporate news, Amentum (AMTM) shares tumbled 10% after reporting a year-over-year decline in fiscal Q4 adjusted earnings and sales.

Meta Platforms (META) was fined 251 million euros ($263.8 million) by the Irish Data Protection Commission following two inquiries into a data breach that impacted about 29 million Facebook accounts globally, including 3 million based in the EU/European Economic Area. Separately, Meta agreed to a 50 million Australian dollar ($31.7 million) settlement to resolve civil penalty proceedings launched by the Australian Information Commissioner in March 2020. Meta shares eased 0.2%.

Nvidia (NVDA) said Tuesday its new Jetson Orin Nano Super Developer Kit is now available for $249, down from $499. Nvidia shares fell 1.8%.

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