03:36 PM EST, 11/11/2024 (MT Newswires) -- Tech stocks were falling late Monday afternoon, with the Technology Select Sector SPDR Fund (XLK) shedding 0.7% and the SPDR S&P Semiconductor ETF (XSD) slumping 2.9%.

The Philadelphia Semiconductor index dropped 2.7%.

In corporate news, Sapiens International ( SPNS ) shares sank 26% after the company reported Q3 revenue that trailed estimates and lowered its 2024 non-GAAP revenue guidance.