Sector Update: Tech
MT newswire2026/10/07 17:0001:00 PM EDT, 10/07/2026 (MT Newswires) -- Tech stocks were lower Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) down 0.5% and the State Street SPDR S&P Semiconductor ETF (XSD) falling 2.1%. The Philadelphia Semiconductor index declined 1.7%. In corporate news, SpaceX (SPCX) is looking to raise about $40 billion in financing led by Apollo Global Management (APO) to buy chips from Nvidia (NVDA), the Financial Times reported. SpaceX shares were down 2.5%, and Nvidia was decreasing 0.9%.
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