03:40 PM EDT, 06/20/2025 (MT Newswires) -- Tech stocks were softer late Friday afternoon, with the Technology Select Sector SPDR Fund (XLK) and the SPDR S&P Semiconductor ETF (XSD) each decreasing 0.6%.

The Philadelphia Semiconductor index was shedding 0.8%.

In sector news, a US official told major global chipmakers that he wanted to revoke waivers that allow them to ship US chip-making equipment to their factories in China without individual licenses, The Wall Street Journal reported.

In corporate news, Sagtec Global ( SAGT ) agreed to buy an 80% stake in Smart Bridge Technology for $17.6 million in stock from VCI Global ( VCIG ) . Sagtec shares were down over 8% and VCI Global ( VCIG ) was falling 13%.