Sector Update: Tech

01:14 PM EDT, 08/28/2026 (MT Newswires) -- Tech stocks were lower Friday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 1.5% and the State Street SPDR S&P Semiconductor ETF (XSD) dropping 3.9%. The Philadelphia Semiconductor index was down 3.6%. In corporate news, Marvell Technology (MRVL) shares fell 10% after the company's stronger-than-expected fiscal Q2 results were overshadowed by investor concerns over the timing of revenue from its deal with Alphabet's (GOOGL, GOOG) Google.