03:25 PM EST, 02/25/2025 (MT Newswires) -- Tech stocks were retreating late Tuesday afternoon, with the Technology Select Sector SPDR Fund (XLK) decreasing 0.7% and the SPDR S&P Semiconductor ETF (XSD) falling 2.4%.

The Philadelphia Semiconductor index dropped 1.5%.

In corporate news, a federal judge on Tuesday denied Meta's (META) motion to dismiss a putative class action alleging that the company favors H-1B visa holders when hiring because it can pay them less than US citizens. Meta shares fell 1.1%.