01:31 PM EDT, 04/19/2024 (MT Newswires) -- Tech stocks were falling in Friday afternoon trading, with the Technology Select Sector SPDR Fund (XLK) dropping 1.4% and the SPDR S&P Semiconductor ETF (XSD) tumbling 1.9%.

The Philadelphia Semiconductor Index shed 2.5%.

In corporate news, Progress Software ( PRGS ) said Friday that it is considering an offer to buy all of the debt and share capital of MariaDB ( MRDB ) for $0.60 per share in cash. MariaDB ( MRDB ) shares surged 26% and Progress was fractionally lower.