01:40 PM EDT, 05/07/2025 (MT Newswires) -- Tech stocks were mixed Wednesday afternoon, with the Technology Select Sector SPDR Fund (XLK) up 0.3% and the SPDR S&P Semiconductor ETF (XSD) easing 0.2%.

The Philadelphia Semiconductor index rose 0.2%.

In corporate news, CrowdStrike ( CRWD ) plans to cut its global workforce by 500 positions, or 5%, the company said Wednesday in a regulatory filing. CrowdStrike ( CRWD ) shares fell past 4%.