01:44 PM EST, 01/13/2025 (MT Newswires) -- Tech stocks declined Monday afternoon with the Technology Select Sector SPDR Fund (XLK) falling 1.1% and the SPDR S&P Semiconductor ETF (XSD) dropping 1.4%.

The Philadelphia Semiconductor index shed 0.8%.

In corporate news, Clearwater Analytics ( CWAN ) agreed to buy Enfusion ( ENFN ) for $1.5 billion in cash and stock. Enfusion ( ENFN ) shares jumped 7.9%, and Clearwater fell 4.1%.