03:31 PM EST, 03/05/2024 (MT Newswires) -- Tech stocks slumped late Tuesday afternoon with the Technology Select Sector SPDR Fund (XLK) and the SPDR S&P Semiconductor ETF (XSD) both down 3.1%.

The Philadelphia Semiconductor index dropped 3%.

In corporate news, Tesla (TSLA) shares fell 4.2% after media reports said the company halted production in its gigafactory in Germany, which was left without power after a suspected arson attack on a nearby electricity pylon.