Technology stocks were lower in Monday afternoon trading, with the Technology Select Sector SPDR Fund (XLK) slipping 0.6% and the Philadelphia Semiconductor index (SOX) down 0.8%.
In company news, Apple (AAPL) Chief Executive Tim Cook met Chinese Commerce Minister Wang Wentao to discuss industrial stabilization and supply chains, according to media reports. Apple stock was down 1.2% in recent trading.
Blackbaud (BLKB) was up more than 12% after its board rejected a buyout offer from private-equity firm Clearlake Capital, which offered $71 per share in cash.
Tempo Automation (TMPO) was up more than 10% after saying it has agreed to buy Optimum Design Associates for an undisclosed sum.
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