01:54 PM EST, 02/03/2025 (MT Newswires) -- Tech stocks were in the red Monday afternoon, with the Technology Select Sector SPDR Fund (XLK) falling 1.4% and the SPDR S&P Semiconductor ETF (XSD) dropping 1.8%.

The Philadelphia Semiconductor index retreated 1.5%.

In corporate news, Meta Platforms' ( META ) overall investment in virtual and augmented reality is set to surpass $100 billion in 2025, the Financial Times reported Monday. Meta shares were rising 2%.

Triumph (TGI) shares jumped 34% after it agreed to be acquired and taken private by affiliates of Warburg Pincus and Berkshire Partners in a roughly $3 billion all-cash deal.

Stratasys ( SSYS ) shares rallied 21% after it said Fortissimo Capital will invest $120 million to acquire about a 14% stake by purchasing about 11.7 million newly issued shares at $10.30 each.