Sector Update: Tech

Last Updated: Wednesday, May 18, 2022 3:41 PM | MT Newswires

Technology stocks were sharply lower on Wednesday, with the SPDR Technology Select Sector ETF (XLK) falling 4.4% while the Philadelphia Semiconductor Index was sliding 4.8% this afternoon. In company news, Extreme Networks (EXTR) dropped 2.1%, with the networking equipment company unable to sustain its morning advance that followed it adding $200 million to its existing stock buyback authorization that had about $10 million remaining.

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