01:42 PM EDT, 03/31/2025 (MT Newswires) -- Tech stocks were in the red Monday afternoon, with the Technology Select Sector SPDR Fund (XLK) falling 1.2% and the SPDR S&P Semiconductor ETF (XSD) dropping 2.3%.

The Philadelphia Semiconductor index fell 1.9%.

In corporate news, GlobalFoundries ( GFS ) and United Microelectronics ( UMC ) are exploring a possible merger, Nikkei Asia reported. GlobalFoundries ( GFS ) shares were down 1.6%, while United Microelectronics ( UMC ) jumped past 9%.