01:43 PM EST, 01/23/2025 (MT Newswires) -- Tech stocks were declining Thursday afternoon, with the Technology Select Sector SPDR Fund (XLK) down 0.3% and the SPDR S&P Semiconductor ETF (XSD) decreasing 0.2%.

The Philadelphia Semiconductor index shed 1%.

In corporate news, Electronic Arts ( EA ) shares slumped more than 16% after the company reported late Wednesday preliminary fiscal Q3 net revenue of about $1.88 billion that missed market expectations.