01:33 PM EDT, 05/29/2024 (MT Newswires) -- Tech stocks were lower Wednesday afternoon, with the Technology Select Sector SPDR Fund (XLK) decreasing 0.3% and the SPDR S&P Semiconductor ETF (XSD) down 1.3%.

The Philadelphia Semiconductor index was down 1.6%.

In corporate news, N-Able ( NABL ) shares jumped 8.7% as Reuters reported Wednesday that the company is exploring a sale after receiving acquisition interest.