Sector Update: Tech
MT newswire2026/11/05 16:56Bitget offers one-stop trading for cryptocurrencies, stocks, and gold. Trade now!
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12:56 PM EST, 11/05/2026 (MT Newswires) -- Tech stocks were sharply lower Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 7% and the State Street SPDR S&P Semiconductor ETF (XSD) dropping 10.6%. The Philadelphia Semiconductor index fell 10.5%. In corporate news, Qualcomm's (QCOM) shares fell more than 11% after its fiscal Q1 adjusted earnings forecast midpoint narrowly missed analysts' estimates, while fiscal Q4 earnings and revenue declined year-over-year.
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