Tech stocks were lower Monday afternoon, with the Technology Select Sector SPDR Fund (XLK) decreasing 0.6% and the SPDR S&P Semiconductor ETF (XSD) falling 1.5%.
The Philadelphia Semiconductor index was down 1%.
In corporate news, the UK's Competition and Markets Authority said Monday it's investigating IBM's (IBM) planned acquisition of HashiCorp (HCP). IBM shares shed 0.8%, and HashiCorp was fractionally lower.
Nvidia (NVDA) completed its acquisition of AI software company Run:ai, according to a blog post from Run:ai on Monday. Nvidia shares gained 2%.
MicroCloud Hologram (HOLO) shares surged 106% after the company said it has developed a fast adiabatic driving protocol for "coherent control of two heavy hole spin qubits in a double quantum dot system."
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