Sector Update: Tech Stocks Fall Monday Afternoon

01:36 PM EDT, 10/12/2026 (MT Newswires) -- Tech stocks were lower Monday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 1.3% and the State Street SPDR S&P Semiconductor ETF (XSD) dropping 3.4%. The Philadelphia Semiconductor index shed 2.5%. In corporate news, IonQ (IONQ) has agreed to buy cybersecurity firm Elisity in an all-stock deal worth up to $1.3 billion, as the quantum computing company looks to prepare for attacks from future quantum computers. IonQ shares fell 9%. Amazon (AMZN) is in talks to buy AI startup Decart in a $7 billion deal, The Wall Street Journal reported Sunday. Amazon shares were down 1.1%. Meta Platforms (META) released its new AI model, Muse Wonder, which possesses frontier capabilities, Chief Executive Mark Zuckerberg said Monday on X. Meta shares rose 4.1%. Salesforce (CRM) shares climbed 1.7% after BofA Securities upgraded the company's rating to buy from underperform. Salesforce has set a credible AI strategy that reduces the risk of becoming obsolete amid a transition toward agentic AI, BofA said in a note.