Tech stocks were declining Thursday afternoon, with the Technology Select Sector SPDR Fund (XLK) fractionally lower and the SPDR S&P Semiconductor ETF (XSD) down 0.6%.
The Philadelphia Semiconductor index fell 0.2%.
In corporate news, Alphabet’s (GOOG) Google confirmed that it is laying off employees across several of its teams worldwide. According to media reports, these include hundreds of roles across its engineering, Google Assistant, knowledge, and information product teams worldwide. Alphabet shares were shedding 0.4%.
Meta Platforms (META) was down 0.7% after digital rights group Noyb filed a complaint with Austria’s Data Protection Authority alleging that Facebook and Instagram users who wish to withdraw their consent to having their data collected have to go through a complicated process of switching to a paid subscription.
Transphorm (TGAN) jumped past 25% after it agreed to be acquired by Renesas Electronics for $5.10 per share in cash, valuing Transphorm at about $339 million.
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