Sector Update: Tech

03:12 PM EDT, 09/23/2026 (MT Newswires) -- Tech stocks fell late Wednesday afternoon with the State Street Technology Select Sector SPDR ETF (XLK) declining 0.6% and the State Street SPDR S&P Semiconductor ETF (XSD) dropping 1.2%. The Philadelphia Semiconductor Index shed 1.3%. In corporate news, Paychex (PAYX) shares fell 7.6%. The company reported fiscal Q1 revenue growth in line with market expectations, while management reiterated its full-year outlook amid a tough comparison in the current quarter.