03:31 PM EDT, 10/15/2024 (MT Newswires) -- Tech stocks were falling late Tuesday afternoon, with the Technology Select Sector SPDR Fund (XLK) dropping 2.3% and the SPDR S&P Semiconductor ETF (XSD) sliding 2.8%.

The Philadelphia Semiconductor index slumped 5.5%.

In corporate news, Ericsson (ERIC) shares jumped nearly 13% after the company's Q3 earnings and revenue beat analysts' estimates.