01:35 PM EST, 01/10/2025 (MT Newswires) -- Tech stocks dropped Friday afternoon with the Technology Select Sector SPDR Fund (XLK) falling 1.7% and the SPDR S&P Semiconductor ETF (XSD) slipping 1.9%.

The Philadelphia Semiconductor index fell 2%.

In corporate news, Synopsys ( SNPS ) won approval from the European Commission for its $35 billion acquisition of Ansys ( ANSS ) . The commission said the clearance was conditional on Synopsys ( SNPS ) and Ansys ( ANSS ) divesting some assets. Synopsys ( SNPS ) shares declined 1.7% and Ansys ( ANSS ) shed 1.2%.