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Software, cybersecurity stocks lead tech sector lower

Tech stocks weighed upon the broader indexes Wednesday, led lower by software, cybersecurity and chip stocks.

The iShares Expanded Tech-Software Sector ETF IGV, -1.33% declined 1.3% as Salesforce.com Inc. CRM, -2.69% dragged on the sector. For the year, the ETF is up 19%.

Salesforce shares were last down 2.9% at $154.75. Late Monday, 50 women filed a lawsuit in San Francisco Superior Court against the customer-relations management software company, alleging the company actively helped the now-defunct adult-classified ad website Backpage in marketing to new users. Less than a year ago, federal officials shut down Backpage on prostitution and sex-trafficking charges and Backpage’s CEO pleaded guilty to conspiracy and money laundering charges.

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