03:40 PM EST, 11/20/2025 (MT Newswires) -- Tech stocks were lower late Thursday afternoon with the Technology Select Sector SPDR Fund (XLK) falling 2.8% and the SPDR S&P Semiconductor ETF (XSD) dropping 3.5%.

The Philadelphia Semiconductor index slumped 4.5%.

In corporate news, Marvell Technology ( MRVL ) plans to expand its India operations, aiming to grow its workforce by about 15% annually over the next three years and increase research spending, Reuters reported, citing an interview with the company's India head, Navin Bishnoi. Marvell ( MRVL ) shares were down 5.8%.