03:56 PM EDT, 04/08/2025 (MT Newswires) -- Tech stocks were lower late Tuesday afternoon, with the Technology Select Sector SPDR Fund (XLK) falling 3.1% and the SPDR S&P Semiconductor ETF (XSD) slumping 7.9%.

The Philadelphia Semiconductor index dropped 4.7%.

In corporate news, Micron Technology ( MU ) will levy a surcharge on several of its products starting April 9 in response to new US tariffs, Reuters reported. Micron shares were falling past 7%.

Alphabet's (GOOG) Google ( GOOG ) and Microsoft ( MSFT ) are among tech giants facing a possible probe from Sen. Elizabeth Warren, D-Massachusetts, over antitrust concerns, Bloomberg reported. Alphabet shares fell 1.9% and Microsoft ( MSFT ) was down 1.2%.

Advanced Micro Devices ( AMD ) is facing concerns over the sustainability of its China AI business, KeyBanc said, downgrading the stock to sector weight from overweight. AMD shares fell 7%.

Taiwan Semiconductor Manufacturing ( TSM ) may face a penalty of $1 billion or more to settle a US Commerce Department investigation into a chip it made that was discovered in an AI processor from China's Huawei, Reuters reported. Taiwan Semiconductor shares dropped 4%.