03:33 PM EDT, 08/28/2024 (MT Newswires) -- Tech stocks were declining late Wednesday afternoon, with the Technology Select Sector SPDR Fund (XLK) falling 1.2% and the SPDR S&P Semiconductor ETF (XSD) shedding 0.9%.

The Philadelphia Semiconductor Index retreated 1.3%.

In corporate news, Apple ( AAPL ) is cutting about 100 jobs from its digital services group, Bloomberg reported Wednesday. Apple ( AAPL ) shares were down 0.2%.