01:41 PM EDT, 04/10/2025 (MT Newswires) -- Tech stocks were in the red Thursday afternoon, with the Technology Select Sector SPDR Fund (XLK) slumping 5.8% and the SPDR S&P Semiconductor ETF (XSD) tumbling past 10%.

The Philadelphia Semiconductor index was sliding nearly 9%.

In corporate news, Microsoft ( MSFT ) is among tech companies that will likely face the impact of a potential slowdown in capital expenditure amid economic uncertainty caused by President Donald Trump's tariffs, Wedbush Securities said. Microsoft ( MSFT ) shares dropped 4.2%.