03:28 PM EDT, 08/14/2025 (MT Newswires) -- Tech stocks declined late Thursday afternoon with the Technology Select Sector SPDR Fund (XLK) down 0.3% and the SPDR S&P Semiconductor ETF (XSD) falling 1%.

The Philadelphia Semiconductor index shed 0.6%.

In corporate news, Ibotta ( IBTA ) shares tumbled 32%. BofA Securities downgraded the stock to underperform from neutral and slashed its price target to $24 from $57, a day after the company issued Q3 revenue guidance that trailed Wall Street estimates.