Sector Update: Tech

MT Newswires Live03:19

Tech stocks were mixed late Tuesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) fractionally lower and the State Street SPDR S&P Semiconductor ETF (XSD) adding 1%.

The Philadelphia Semiconductor index increased 0.3%.

In corporate news, Meta Platforms' (META) Chief Global Affairs Officer Joel Kaplan will leave the company in 2027, Axios reported. He will stay through the US midterm elections and into 2027 to manage the transition, the report added. Dina Powell McCormick, Meta's president and vice chairman, will add external affairs to her duties, while chief legal officer C.J. Mahoney will take on policy responsibilities, Axios reported. Meta shares were down 2.3%.

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