03:43 PM EDT, 07/17/2024 (MT Newswires) -- Tech stocks tumbled late Wednesday afternoon with the Technology Select Sector SPDR Fund (XLK) falling 3.5% and the SPDR S&P Semiconductor ETF (XSD) dropping 4.8%.

The Philadelphia Semiconductor Index slumped 5.9%.

In corporate news, Nuvei ( NVEI ) shares rose 0.6%, a day after the European Commission said it won't oppose Advent International's planned acquisition of the company.