01:19 PM EDT, 07/22/2025 (MT Newswires) -- Tech stocks were lower Tuesday afternoon, with the Technology Select Sector SPDR Fund (XLK) falling 1% and the SPDR S&P Semiconductor ETF (XSD) dropping 2.3%.

The Philadelphia Semiconductor index was shedding 1.9%.

In corporate news, Nokia ( NOK ) shares fell 3% after it cut its 2025 comparable operating profit guidance to the range of 1.6 billion euros ($1.88 billion) to 2.1 billion euros from 1.9 billion euros to 2.4 billion euros, citing currency headwinds from the weaker dollar and tariffs.