03:27 PM EDT, 09/05/2024 (MT Newswires) -- Tech stocks were retreating late Thursday afternoon, with the Technology Select Sector SPDR Fund (XLK) down 0.3% and the SPDR S&P Semiconductor ETF (XSD) shedding 0.4%.

The Philadelphia Semiconductor index fell 0.5%.

In corporate news, Couchbase ( BASE ) shares tumbled past 15%. The company's fiscal Q2 revenue and earnings were in line with expectations but Q3 and fiscal 2025 guidance was softer due to increased churn and downsells during the quarter, Oppenheimer said in a note Thursday.