Tech stocks were lower Wednesday afternoon, with the Technology Select Sector SPDR Fund (XLK) decreasing 1.3% and the Philadelphia Semiconductor index falling 2.0%.
In company news, Amazon.com (AMZN) was accused by the US Federal Trade Commission of allegedly duping millions of consumers into unknowingly enrolling in Amazon Prime and making it hard for them to cancel their subscriptions. The company’s shares were down 0.2%.
Dropbox (DBX) said it launched Dropbox Dash and Dropbox AI, new artificial intelligence-backed products to enhance work-related content for customers. Its shares were down 0.2%.
Stratasys (SSYS) said that it is asking its shareholders not to tender their shares into Nano Dimension’s (NNDM) partial tender offer to buy Stratasys shares for $18 per share in cash. Stratasys shares were down 0.5%.
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