Tech stocks were lower Thursday afternoon, with the Technology Select Sector SPDR Fund (XLK) decreasing 0.4% and the SPDR S&P Semiconductor ETF (XSD) down 0.9%.
The Philadelphia Semiconductor index shed 0.7%.
In corporate news, Alphabet's (GOOG) Google violated Section 2 of the Sherman Antitrust Act "by willfully acquiring and maintaining monopoly power in the open-web display publisher ad server market and the open-web display ad exchange market," US District Judge Leonie Brinkema said Thursday. Alphabet shares were falling 0.9%.
Nvidia (NVDA) Chief Executive Jensen Huang visited Beijing on Thursday to meet with company clients and government officials, according to media reports. Separately, Intel (INTC) has warned its Chinese customers that some of its high-end AI chips will soon need US export licenses, the Financial Times reported Wednesday. Nvidia shares were shedding 3% and Intel was down 1.3%.
Hewlett Packard Enterprise's (HPE) board is expected to meet in the coming days to discuss replacing Chief Executive Antonio Neri after activist investor Elliott Management submitted a proposal calling for his ouster, Semafor reported. HP Enterprise shares rose 1.8%.
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