03:32 PM EDT, 04/12/2024 (MT Newswires) -- Tech stocks were in the red late Friday afternoon, with the Technology Select Sector SPDR Fund (XLK) falling 1.8% and the SPDR S&P Semiconductor ETF (XSD) tumbling 3.8%.

The Philadelphia Semiconductor index was sliding 3.5%.

In corporate news, Apple's ( AAPL ) appeal to throw out a UK mass lawsuit, which accuses the iPhone maker of charging third-party developers "excessive and unfair" commissions, was rejected, according to the Competition Appeal Tribunal ruling published Friday. Apple ( AAPL ) shares were rising 0.6%.