03:29 PM EST, 12/17/2024 (MT Newswires) -- Tech stocks were sliding late Tuesday afternoon, with the Technology Select Sector SPDR Fund (XLK) decreasing 0.9% and the SPDR S&P Semiconductor ETF (XSD) falling 2.5%.

The Philadelphia Semiconductor index dropped 2.2%.

In corporate news, Nukkleus ( NUKK ) shares soared 930%. The company said Tuesday it bought a 51% controlling stake in Star 26 Capital, a defense acquisition firm holding 95% ownership in Rimon, an Israeli supplier of "critical components" for the Iron Dome missile defense system, for $26 million.