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Sector Update: Tech Stocks Fall Monday Afternoon
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Sector Update: Tech Stocks Fall Monday Afternoon
Nov 11, 2024 11:22 AM

01:56 PM EST, 11/11/2024 (MT Newswires) -- Tech stocks were declining Monday afternoon, with the Technology Select Sector SPDR Fund (XLK) falling 0.9% and the SPDR S&P Semiconductor ETF (XSD) tumbling 3.6%.

The Philadelphia Semiconductor index slumped 3.4%.

In corporate news, MicroStrategy's ( MSTR ) shares jumped more than 21% after the company announced updates regarding its bitcoin purchases and capital market activities.

Monday.com's ( MNDY ) Q3 results beat Wall Street's estimates, but the company's enterprise customer additions took a hit amid a choppy macro environment. Its shares tumbled 15%.

MARA (MARA) shares surged past 29% after the company said it added about 372 megawatts of owned and operated compute capacity across three sites in Ohio.

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