03:51 PM EDT, 04/17/2024 (MT Newswires) -- Tech stocks fell late Wednesday afternoon, with the Technology Select Sector SPDR Fund (XLK) declining 1.4% and the SPDR S&P Semiconductor ETF (XSD) down 2%.

The Philadelphia Semiconductor index tumbled 3.2%.

In corporate news, Alphabet's (GOOG) Google ( GOOG ) is laying off more workers and relocating some roles to other offices in and outside the US. Alphabet shares added 0.5%.

Zuora ( ZUO ) is considering options that include a potential sale, according to media reports. Its shares surged 13%.

Autodesk ( ADSK ) shares were falling past 5% in recent trading, a day after the company said it won't be able to file its annual report for the year ended Jan. 31 on time due to an ongoing internal investigation.

ASML ( ASML ) shares sank almost 7% after the company reported lower Q1 earnings and sales.