01:34 PM EST, 12/05/2024 (MT Newswires) -- Tech stocks were declining Thursday afternoon, with the Technology Select Sector SPDR Fund (XLK) decreasing 0.6% and the SPDR S&P Semiconductor ETF (XSD) falling 1.2%.

The Philadelphia Semiconductor index dropped 1.8%.

In corporate news, Synopsys ( SNPS ) shares tumbled 12% as it issued a downbeat full-year revenue outlook despite reporting fiscal Q4 results above Wall Street's expectations.