01:36 PM EDT, 04/02/2024 (MT Newswires) -- Tech stocks were in the red Tuesday afternoon, with the Technology Select Sector SPDR Fund (XLK) falling 1.2% and the SPDR S&P Semiconductor ETF (XSD) dropping 2.5%.

The Philadelphia Semiconductor index slumped 2.1%.

In corporate news, Tesla's (TSLA) Q1 vehicle deliveries missed analysts' expectations and decreased both on a sequential and annual basis, partially impacted by factory shutdowns. Tesla shares tumbled 4.8%.