01:34 PM EDT, 04/18/2024 (MT Newswires) -- Tech stocks were retreating Thursday afternoon, with the Technology Select Sector SPDR Fund (XLK) falling 0.9% and the SPDR S&P Semiconductor ETF (XSD) dropping 1.7%.

The Philadelphia Semiconductor index slumped 1.4%.

In corporate news, Infosys ( INFY ) reported a surprise gain in fiscal Q4 earnings on Thursday despite virtually flat revenue, while announcing the acquisition of German automotive services provider in-tech. Infosys ( INFY ) shares were shedding 2.9%.