03:29 PM EDT, 04/17/2024 (MT Newswires) -- Tech stocks fell late Wednesday afternoon with the Technology Select Sector SPDR Fund (XLK) dropping 1.4% and the SPDR S&P Semiconductor ETF (XSD) slumping 1.5%.

The Philadelphia Semiconductor index tumbled 3.2%.

In corporate news, Alphabet's (GOOG) Google ( GOOG ) is laying off more workers and relocating some roles to other offices in and outside the US. Alphabet shares added 0.7%.