01:18 PM EDT, 05/23/2025 (MT Newswires) -- Tech stocks were in the red Friday afternoon, with the Technology Select Sector SPDR Fund (XLK) down 0.8% and the SPDR S&P Semiconductor ETF (XSD) dropping 1.4%.

The Philadelphia Semiconductor index dropped 1.3%.

In corporate news, President Donald Trump threatened to impose a tariff of at least 25% on Apple ( AAPL ) if the company doesn't start producing iPhones in the US. Apple ( AAPL ) shares were falling 2.6%.