Sector Update: Tech

Sector Update: Tech

MT newswire2026/10/30 19:20

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03:20 PM EDT, 10/30/2026 (MT Newswires) -- Tech stocks were sharply lower late Friday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 5.7% and the State Street SPDR S&P Semiconductor ETF (XSD) dropping 7.9%. The Philadelphia Semiconductor index lost 8.6%. In corporate news, Reddit (RDDT) shares sank 29% after it reported Q3 earnings that missed analysts' expectations.

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