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Sector Update: Tech

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Tech stocks declined late Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 1.4% and the State Street SPDR S&P Semiconductor ETF (XSD) dropping 3.7%.

The Philadelphia Semiconductor index shed 1.8%.

In corporate news, Alphabet's (GOOGL) Google is poised to lose two leading AI researchers to rival Anthropic, Bloomberg reported. The two researchers, Jonas Adler and Alexander Pritzel, are viewed internally as critical contributors to the tech giant's Gemini AI model, the report said. Alphabet shares were down 1.1%.

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