03:36 PM EDT, 09/30/2024 (MT Newswires) -- Tech stocks dropped late Monday afternoon with the Technology Select Sector SPDR Fund (XLK) decreasing 0.5% and the SPDR S&P Semiconductor ETF (XSD) falling 1.9%.

The Philadelphia Semiconductor index dropped 1.9%.

In corporate news, TTEC ( TTEC ) shares soared 44% after the board received an unsolicited proposal from founder and Chief Executive Officer Kenneth Tuchman to take the company private at $6.85 a share.