Sector Update: Tech

03:29 PM EDT, 10/22/2026 (MT Newswires) -- Tech stocks were sharply lower late Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 3.3% and the State Street SPDR S&P Semiconductor ETF (XSD) dropping 5.9%. The Philadelphia Semiconductor index slumped 6.4%. In corporate news, Datadog (DDOG) offered nearly $4 billion to acquire cloud cybersecurity startup Upwind Security, The Information reported. Upwind has not accepted the offer and is finalizing a $300 million funding round at a valuation of about $3.8 billion, according to the report. Datadog shares were down 4.4%.