03:37 PM EDT, 03/31/2025 (MT Newswires) -- Tech stocks fell late Monday afternoon with the Technology Select Sector SPDR Fund (XLK) down 0.3% and the SPDR S&P Semiconductor ETF (XSD) dropping 1.3%.

The Philadelphia Semiconductor Index shed 0.8%.

In corporate news, Microsoft ( MSFT )-backed (MSFT) OpenAI's private funding round may be slashed by $10 billion to $30 billion if it doesn't restructure to a for-profit entity by Dec. 31, CNBC reported. Microsoft ( MSFT ) shares dropped 1.2%.