01:37 PM EDT, 03/15/2024 (MT Newswires) -- Tech stocks were falling Friday afternoon, with the Technology Select Sector SPDR Fund (XLK) dropping 1.7% and the SPDR S&P Semiconductor ETF (XSD) down 0.4%.

The Philadelphia Semiconductor index decreased 0.1%.

In corporate news, Adobe's (ADBE) shares tumbled more than 14% after it issued fiscal Q2 revenue guidance that trailed analysts' estimates.