01:32 PM EST, 03/03/2025 (MT Newswires) -- Tech stocks were in the red Monday afternoon, with the Technology Select Sector SPDR Fund (XLK) falling 1.5% and the SPDR S&P Semiconductor ETF (XSD) dropping 1.4%.

The Philadelphia Semiconductor index fell 2%.

In corporate news, Taiwan Semiconductor Manufacturing ( TSM ) plans to invest $100 billion in US-based chip manufacturing plants over the next four years under a plan expected to be announced by President Donald Trump on Monday, The Wall Street Journal reported. Taiwan Semiconductor shares were down 3.6%.