03:43 PM EDT, 05/19/2025 (MT Newswires) -- Tech stocks were lower in late Monday afternoon trading, with the Technology Select Sector SPDR Fund (XLK) shedding 0.3% and the SPDR S&P Semiconductor ETF (XSD) falling 1.9%.

The Philadelphia Semiconductor index retreated 0.8%.

In corporate news, Ant International, the international division of Alibaba-backed (BABA) Ant Group, generated almost $3 billion in annual revenue in 2024 ahead of its planned spinoff from the group, Bloomberg reported. Alibaba ( BABA ) shares were down 0.6%.