Tech stocks were lower Monday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 1.2% and the State Street SPDR S&P Semiconductor ETF (XSD) dropping 4.7%.

The Philadelphia Semiconductor index lost 4.9%.

In corporate news, Amazon-backed (AMZN) Anthropic CEO Dario Amodei called for the AI industry to slow the pace of model capability development, saying that accelerating advances and recent alignment incidents could outpace efforts to ensure AI safety. Amazon shares were down 0.8%.