03:30 PM EDT, 04/10/2024 (MT Newswires) -- Tech stocks fell late Wednesday afternoon with the Technology Select Sector SPDR Fund (XLK) shedding 1.2% and the SPDR S&P Semiconductor ETF (XSD) tumbling 3.9%.

The Philadelphia Semiconductor index dropped 1.7%.

In corporate news, Nvidia ( NVDA ) shares rose 1.9% as Morgan Stanley lifted its price target for the company to $1,000 from $795, while keeping the overweight rating. The investment firm said it expects continued strengthening of Nvidia's ( NVDA ) business.