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Sector Update: Tech

Apr 30, 2024 5:09 PM

03:31 PM EDT, 04/30/2024 (MT Newswires) -- Tech stocks fell late Tuesday afternoon with the Technology Select Sector SPDR Fund (XLK) shedding 1.3% and the SPDR S&P Semiconductor ETF (XSD) down 0.9%.

The Philadelphia Semiconductor index declined 1.1%.

In corporate news, Alphabet's (GOOG) Google ( GOOG ) has agreed to pay $5 million to $6 million annually to News Corp. ( NWSA ) , owner of the Wall Street Journal, for the development of new artificial intelligence-related content and products, the Information reported Tuesday. Alphabet shares fell more than 1% and News Corp. ( NWSA ) was down 1.4%.

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