03:28 PM EDT, 06/05/2025 (MT Newswires) -- Tech stocks fell late Thursday afternoon, with the Technology Select Sector SPDR Fund (XLK) down 0.3% and the SPDR S&P Semiconductor ETF (XSD) dropping 2%.

The Philadelphia Semiconductor index shed 1.9%.

In corporate news, Republican lawmakers are raising concerns about the Trump administration's work with Palantir ( PLTR ) to aggregate large amounts of government data on Americans, Semafor reported. Palantir ( PLTR ) shares slumped 7.4%.