12:58 PM EDT, 06/10/2026 (MT Newswires) -- Tech stocks were lower Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 1.7% and the State Street SPDR S&P Semiconductor ETF (XSD) dropping 3.1%.

The Philadelphia Semiconductor index declined 3%.

In corporate news, Super Micro Computer ( SMCI ) shares tumbled past 18% after the company said late Tuesday it is planning $7 billion worth of equity and equity-linked financing transactions as part of efforts to fund AI orders related to its advanced servers.