03:29 PM EDT, 04/15/2024 (MT Newswires) -- Tech stocks were in the red late Monday afternoon, with the Technology Select Sector SPDR Fund (XLK) falling 1.8% and the SPDR S&P Semiconductor ETF (XSD) dropping 2.3%.

The Philadelphia Semiconductor Index declined 1.6%.

In corporate news, MicroStrategy ( MSTR ) shares tumbled 9.2% after a regulatory filing late Friday showed executive board chairman Michael Saylor sold 5,000 of the company's shares on April 11 for just under $7.7 million in gross proceeds.