Sector Update: Tech Stocks Fall Monday Afternoon

01:53 PM EDT, 09/28/2026 (MT Newswires) -- Tech stocks were lower Monday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) down 0.7% and the State Street SPDR S&P Semiconductor ETF (XSD) falling 2.2%. The Philadelphia Semiconductor index shed 1.6%. In corporate news, MongoDB (MDB) said Monday Chirantan Desai has stepped down as president and CEO of the firm to pursue a senior role at Meta Platforms (META). The company appointed Dev Ittycheria as interim president and CEO, effective immediately. Shares fell past 17%. Nvidia (NVDA) said its board has approved a $150 billion increase to its share repurchase program, raising the total program to $235 billion. Shares were up 2.3%. Snowflake (SNOW) said Monday it plans to offer $1.3 billion of its 0.0% convertible senior notes due 2029 and $2.2 billion of its 0.0% convertible senior notes due 2031. Shares fell 1.9%.