Sector Update: Tech Stocks Fall Wednesday Afternoon

01:38 PM EDT, 10/14/2026 (MT Newswires) -- Tech stocks were lower Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 2.3% and the State Street SPDR S&P Semiconductor ETF (XSD) dropping 4.3%. The Philadelphia Semiconductor index was shedding 3.3%. In corporate news, ASML (ASML) reported a fiscal Q3 net income Wednesday of 12.93 euros ($14.49) per diluted share, up from 5.48 euros a year earlier and above the FactSet consensus of 10.96 euros. Net sales were 11.66 billion euros, up from 7.52 billion euros a year ago but below the FactSet consensus of 11.78 billion euros. ASML shares were down 1.6%. Palantir (PLTR) and the London Mayor's Office for Policing and Crime have resolved their High Court proceedings and have each withdrawn their allegations against the other in their pleadings, the mayor's office said Wednesday. Palantir had brought a claim against the MOPAC in June after the mayor's office refused to approve its $65.9 million contract with the Metropolitan Police for the provision of data analysis and AI services, according to media reports. Palantir shares were shedding 3.1%. Bending Spoons (BSP) shares surged 48% after it said Wednesday that Berkshire Hathaway (BRK.A, BRK.B) is investing an additional $330 million in the company, bringing its ownership stake to 4%. Berkshire previously invested $600 million in the company at its initial public offering in July, it said.