Tech Stocks Slump Pre-Bell, Despite Earnings Bounce
Tech stocks were down premarket on Thursday, September 24, 2026. The State Street Technology Select Sector SPDR Fund (XLK) declined by 1.3%, while the State Street SPDR S&P Semiconductor ETF (XSD) fell 1.6%. TD Synnex (SNX) stock dropped over 9% despite posting higher fiscal Q3 non-GAAP earnings and revenue.
Ericsson (ERIC) shares were down more than 2% after signing a memorandum of understanding with Saab to explore integrating terrestrial and space-based communications for future defense, security, and 'societal resilience'. BlackBerry (BB) stock fell over 1% despite reporting higher fiscal Q2 adjusted earnings and revenue, as well as lifting its fiscal 2027 outlook.
The decline in tech stocks comes after a day of mixed performances from various sectors. The market remains volatile, with investors closely monitoring economic indicators and company announcements.