03:30 PM EDT, 08/22/2024 (MT Newswires) -- Tech stocks were declining late Thursday afternoon, with the Technology Select Sector SPDR Fund (XLK) and the SPDR S&P Semiconductor ETF (XSD) each falling 2.2%.

The Philadelphia Semiconductor Index dropped 3.1%.

In corporate news, Shutterstock ( SSTK ) shares fell 4% after the company said its Chief Product and Digital Officer John Caine is leaving the firm.