01:33 PM EST, 12/30/2024 (MT Newswires) -- Tech stocks were lower Monday afternoon, with the Technology Select Sector SPDR Fund (XLK) decreasing 0.7% and the SPDR S&P Semiconductor ETF (XSD) falling 1.5%.

The Philadelphia Semiconductor index was down 1.2%.

In corporate news, the UK's Competition and Markets Authority said Monday it's investigating IBM's ( IBM ) planned acquisition of HashiCorp ( HCP ) . IBM ( IBM ) shares shed 0.8%, and HashiCorp ( HCP ) was little changed.