01:46 PM EST, 01/08/2025 (MT Newswires) -- Tech stocks were lower Wednesday afternoon, with the Technology Select Sector SPDR Fund (XLK) down fractionally and the SPDR S&P Semiconductor ETF (XSD) falling 2.1%.

The Philadelphia Semiconductor index fell 0.8%.

In sector news, a tech group representing companies like Amazon (AMZN), Microsoft (MSFT), and Meta (META) called on the Biden administration to avoid implementing a rule that would curtail international access to AI chips, Reuters reported Tuesday, citing the group's letter to US Commerce Secretary Gina Raimondo.

In corporate news, Meta (META) said it will roll out a test in the US, France, and Germany for buyers to browse eBay ( EBAY ) listings on Facebook Marketplace and then complete the transactions on eBay ( EBAY ). eBay ( EBAY ) shares popped 9.8% while Meta was shedding 0.9%.