01:02 PM EDT, 08/29/2025 (MT Newswires) -- Tech stocks were lower Friday afternoon, with the Technology Select Sector SPDR Fund (XLK) down 1.5% and the SPDR S&P Semiconductor ETF (XSD) falling 1.8%.

The Philadelphia Semiconductor index slumped 2.8%.

In corporate news, Marvell Technology ( MRVL ) shares fell past 16% after the semiconductor company issued a fiscal Q3 revenue outlook below market estimates at the midpoint and reported Q2 results in line with expectations.