Shares of technology companies fell as a rout in semiconductor stocks continued.

South Korean memory chip maker SK Hynix fell as dramatic operating income growth still lagged investors' stratospheric expectations. Similarly, shares of American chip designer Qualcomm fell in late trading in the wake of its earnings report.

The PHLX "SOX" Semiconductor Sector index fell by 5.3%. It was the thirteenth time since June 1 that the index rose or fell by 5% or more, one of the most volatile periods for chip stocks since the bursting of the Dotcom bubble in 2000.

Shares of Microsoft ticked up in late trading after it posted 18% quarterly revenue growth, bolstered by sales of its Azure cloud products.