03:20 PM EDT, 04/23/2026 (MT Newswires) -- Tech stocks were mixed late Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 1.6% and the State Street SPDR S&P Semiconductor ETF (XSD) rising 1.5%.

The Philadelphia Semiconductor index added 1%.

In corporate news, Meta Platforms ( META ) intends to eliminate roughly 8,000 jobs, or 10% of its workforce, in an attempt to boost efficiency and offset significant spending on AI, Bloomberg reported, citing a memo the company sent to employees. Meta shares were down 2.4%.