Tech stocks were lower Monday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 1.5% and the State Street SPDR S&P Semiconductor ETF (XSD) dropping 3.9%.
The Philadelphia Semiconductor index slumped 2.7%.
In corporate news, Seagate Technology (STX) shares fell past 8% after its Chief Executive Dave Mosley said that building new factories to meet demand would "take too long."
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