Technology stocks were down pre-bell Monday. The Technology Select Sector SPDR ETF (XLK) declined 0.2% and the Semiconductor Sector Index Fund (SOXX) slipped 0.7%.
In company news, Micron Technology (MU) retreated 4.5%. The company’s products failed a network security review by the Cyberspace Administration of China, which would bar infrastructure clients from buying from the company, according to media reports.
Meta Platforms (META) was down 0.7%, after Ireland’s Data Protection Commission imposed a fine of 1.2 billion euros ($1.3 billion) on the company for violating the European regulation over the transfer of personal data to the US.
Full Truck Alliance (YMM) rose 5.8%, after reporting higher Q1 adjusted earnings and revenue. The digital freight platform operator also guided for sequential revenue growth in Q2.
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