03:27 PM EST, 12/10/2024 (MT Newswires) -- Tech stocks were sliding late Tuesday afternoon, with the Technology Select Sector SPDR Fund (XLK) falling 1.5% and the SPDR S&P Semiconductor ETF (XSD) dropping 2.6%.

The Philadelphia Semiconductor index slumped 2.7%.

In corporate news, Gen Digital ( GEN ) struck a deal to buy personal finance management platform MoneyLion ( ML ) . Gen Digital ( GEN ) will pay $82 per share in cash, representing a cash value of $1 billion. Gen Digital ( GEN ) shares shed 2.6% and MoneyLion ( ML ) jumped nearly 15%.