01:11 PM EDT, 03/25/2026 (MT Newswires) -- Tech stocks were higher Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) increasing 0.5% and the State Street SPDR S&P Semiconductor ETF (XSD) gaining 1.6%.

The Philadelphia Semiconductor index climbed 1.2%.

In corporate news, Meta Platforms ( META ) will lay off a few hundred workers across the company on Wednesday, The Information reported. The cuts will impact Meta's hardware platforms and wearables division, Reality Labs, as well as its social media teams, recruiting operations and a smaller figure in sales, the report said. Meta shares were up 0.8%.