Sector Update: Tech

01:11 PM EDT, 09/01/2026 (MT Newswires) -- Tech stocks were lower Tuesday 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 2.4%. The Philadelphia Semiconductor index shed 2.1%. In corporate news, GoPro (GPRO) shares surged 44% after the company and optical-photonics company Starman Optical said Tuesday they have signed a definitive merger agreement. Under the terms of the deal, GoPro shareholders will receive $1.14 per share, for a total of $285 million in cash and will retain a stake in the combined company of about 10%.