Shares of technology companies fell as the sector gave back some of its recent gains due to concerns about the software business.
Business software maker ServiceNow warned that delayed closings of several large on-premise deals in the Middle East due to the war in Iran weighed on its earnings. Other software makers such as Oracle and Adobe fell in sympathy.
The SPDR Select Sector Technology exchange-traded fund, which tracks the tech industry group of the S&P 500, fell sharply but remains in the green for the week.
Microsoft is offering long-tenured employees voluntary buyouts, a first for the software giant as it continues to reorganize staff around its push to accelerate its artificial-intelligence efforts.
Tesla shares fell amid concerns about Chief Executive Elon Musk's acknowledgement on an earnings conference call that millions of Tesla cars lack the capability to achieve unsupervised full self-driving, and a vow to offer customers the chance to trade in or upgrade their vehicles.
Shares of Texas Instruments rallied after the maker of analog chips posted earnings ahead of Wall Street targets.
ASML shares fell late in the week after chip giant Taiwan Semiconductor Manufacturing said it had no plans to buy the Dutch semiconductor-equipment maker's high-end lithography machines because they were too expensive.
Meta Platforms slid after the Facebook owner warned it would lay off about 8,000 employees in May.
Intel rose in late trading and was set to test all-time highs after AI applications spurred demand for its chips.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
April 23, 2026 17:54 ET (21:54 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.
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