03:29 PM EDT, 03/15/2024 (MT Newswires) -- Tech stocks were declining late Friday afternoon, with the Technology Select Sector SPDR Fund (XLK) falling 1.4% and the SPDR S&P Semiconductor ETF (XSD) shedding 0.4%.

The Philadelphia Semiconductor index was down 0.2%.

In corporate news, Jabil ( JBL ) shares plunged 18% after the company's fiscal Q2 revenue, released on Friday, fell short of market expectations, while it cut its fiscal 2024 outlook.