01:31 PM EDT, 03/11/2024 (MT Newswires) -- Tech stocks were lower Monday afternoon, with the Technology Select Sector SPDR Fund (XLK) decreasing 0.2% and the SPDR S&P Semiconductor ETF (XSD) down 0.5%.

The Philadelphia Semiconductor index fell 1.3%.

In corporate news, Nextnav ( NN ) shares soared past 28% after the company said it will buy for up to $50 million additional spectrum licenses in the lower 900 MHz band from Telesaurus and the Skybridge Spectrum Foundation.