03:41 PM EDT, 04/10/2025 (MT Newswires) -- Tech stocks tumbled late Thursday afternoon with the Technology Select Sector SPDR Fund (XLK) falling 5.4% and the SPDR S&P Semiconductor ETF (XSD) plunging nearly 10%.

The Philadelphia Semiconductor Index slumped 9.3%.

In corporate news, Alphabet's (GOOG) Google ( GOOG ) has offered to slash what it charges the US government for its tools in a new strategic agreement, the US General Services Administration said in a statement. Alphabet shares were down 3.7%.