Sector Update: Tech Stocks Fall Late Afternoon

03:51 PM EDT, 10/14/2026 (MT Newswires) -- Tech stocks were lower late Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 2.9% and the State Street SPDR S&P Semiconductor ETF (XSD) dropping 5%. The Philadelphia Semiconductor index was down 3.9%. In sector news, Anduril Industries confirmed a Bloomberg report in an email to MT Newswires that it is letting employees sell shares as part of a tender offer that is expected to value the company at about $90 billion. The tender would let workers at the defense-technology startup sell shares at $94.80 each, with the total size of the offer capped at around $1.3 billion, the report said. In corporate news, CoreWeave (CRWV) Chief Executive Mike Intrator said that a plunge in the company's stock and bond prices is due to the market acting "irrationally," Bloomberg reported Wednesday, citing a memo it saw. The company's deal backlog is large enough to more than support its debt obligations, Intrator reportedly said in the memo. CoreWeave shares were falling past 15%. Dell (DELL) shares fell past 11% after Barclays downgraded the company's stock to equalweight, with a price target of $574. 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 2.9%. Bending Spoons (BSP) shares surged 42% 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.