Sector Update: Tech Stocks Fall Tuesday Afternoon

MT Newswires Live

2024/10/02

Tech stocks were down Tuesday afternoon, with the Technology Select Sector SPDR Fund (XLK) dropping 3% and the SPDR S&P Semiconductor ETF (XSD) slumping 4%.

The Philadelphia Semiconductor Index fell 3%.

In corporate news, Apple's (AAPL) suppliers may have to import parts from China or elsewhere after a fire caused extensive damage at Tata's iPhone component plant in India over the weekend, Reuters reported. Apple shares were falling 3.6%.

Meta Platforms (META) said Tuesday it will expand manufacturing of its Quest 3S mixed-reality device to Vietnam starting next year. Meta shares rose 0.7%.

PowerSchool (PWSC) said Tuesday that Bain Capital has closed its acquisition of the company for $22.80 per share in cash, for an enterprise value of $5.6 billion. PowerSchool shares shed 0.2%.

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Apple shares were falling 3.6%.</p><p>Meta Platforms (META) said Tuesday it will expand manufacturing of its Quest 3S mixed-reality device to Vietnam starting next year. Meta shares rose 0.7%.</p><p>PowerSchool (PWSC) said Tuesday that Bain Capital has closed its acquisition of the company for $22.80 per share in cash, for an enterprise value of $5.6 billion. PowerSchool shares shed 0.2%.</p></body></html>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"IE00BK4W5M84.HKD","symbol_name":"HSBC GLOBAL FUNDS ICAV US EQUITY INDEX \"HC\" (HKD) ACC","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2472074923","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2472074923","pubTimestamp":1727804935,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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