Sector Update: Tech Stocks Fall Monday Afternoon

01:33 PM EDT, 09/14/2026 (MT Newswires) -- Tech stocks were lower Monday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 1.2% and the State Street SPDR S&P Semiconductor ETF (XSD) dropping 5%. The Philadelphia Semiconductor index lost 5.1%. In corporate news, Amazon-backed (AMZN) Anthropic CEO Dario Amodei called for the AI industry to slow the pace of model capability development, saying that accelerating advances and recent alignment incidents could outpace efforts to ensure AI safety. Amazon shares were down 0.7%. Microsoft-backed (MSFT) OpenAI CEO Sam Altman said the company's highly anticipated initial public offering will not take place in 2026 due to ongoing concerns around safety and control in the AI sector, Fortune reported, citing an interview with Altman. Separately, Microsoft has posted a document outlining the intended behavior and values of the company's future AI models. The tech giant said the document is being shared for public consultation. Microsoft shares were up 2.6%. Oracle (ORCL) has started a new round of layoffs after cuts to its workforce earlier this year, Business Insider reported. Oracle shares fell 4.4%.