03:56 PM EDT, 07/30/2024 (MT Newswires) -- Tech stocks were falling late Tuesday afternoon, with the Technology Select Sector SPDR Fund (XLK) retreating 2.5% and the SPDR S&P Semiconductor ETF (XSD) dropping 3.7%.

The Philadelphia Semiconductor index slumped 3.4%.

In corporate news, Tenable (TENB) shares jumped 10% after Bloomberg reported Tuesday that the company is exploring a potential sale after getting takeover interest.

CrowdStrike's ( CRWD ) user agreements largely keep it safe from revenue loss recovery and limit damages, but government contracts might pose higher liability risks from the recent tech outage, Wedbush said in a note. Separately, Delta Air Lines ( DAL ) has hired attorney David Boies to pursue potential damages from CrowdStrike ( CRWD ) and Microsoft ( MSFT ) in the wake of the outage. CrowdStrike ( CRWD ) shares tumbled 9.5% and Microsoft ( MSFT ) was down 0.4%.

Meta Platforms ( META ) has reached a $1.4 billion deal with Texas to settle the state's lawsuit accusing the company of illegally using facial recognition technology to collect biometric data of users in the state without their consent, Attorney General Ken Paxton said. Meta shares were shedding 0.3%.

Alphabet's (GOOG) partnership with artificial intelligence company Anthropic is being assessed by the UK's antitrust watchdog, the regulator said Tuesday. Alphabet shares were rising 0.6%.