Sector Update: Tech

Last Updated: Friday, January 21, 2022 3:43 PM | MT Newswires

Technology stocks turned lower Friday, with the SPDR Technology Select Sector ETF (XLK) slipping 1.5%, giving back its morning gain, while the Philadelphia Semiconductor Index was falling 1.1% this afternoon. In company news, Shopify (SHOP) dropped over 13% following reports that it is preparing to cut its fulfillment network capacity by as much as half from current levels.

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