03:27 PM EDT, 09/16/2024 (MT Newswires) -- Tech stocks fell late Monday afternoon, with the Technology Select Sector SPDR Fund (XLK) decreasing 0.6% and the SPDR S&P Semiconductor ETF (XSD) dropping 1.3%.

The Philadelphia Semiconductor index slumped 1.6%.

In corporate news, Intel ( INTC ) shares jumped 6.7% after the company said it received US government funding of up to $3 billion in support of the Secure Enclave program that helps secure the domestic supply chain of advanced chips for defense and national security systems.