Shares of technology companies fell as traders continued to take profits on the sector's banner 2024 performance.

The SPDR Select Sector Materials exchange-traded fund, which tracks the tech industry group of the broad S&P 500, is down 3% for the year to date, in contrast to the 5% gain for 2024 laggard energy.

Meta Platforms said it was cutting about 5% of its employees, targeting underperformers.


Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

01-14-25 1731ET