Tech stocks were lower late Thursday afternoon with the Technology Select Sector SPDR Fund (XLK) falling 2.8% and the SPDR S&P Semiconductor ETF (XSD) dropping 3.5%.
The Philadelphia Semiconductor index slumped 4.5%.
In corporate news, Marvell Technology (MRVL) plans to expand its India operations, aiming to grow its workforce by about 15% annually over the next three years and increase research spending, Reuters reported, citing an interview with the company's India head, Navin Bishnoi. Marvell shares were down 5.8%.
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