03:14 PM EDT, 07/22/2025 (MT Newswires) -- Tech stocks were lower late Tuesday afternoon, with the Technology Select Sector SPDR Fund (XLK) falling 0.9% and the SPDR S&P Semiconductor ETF (XSD) dropping 1.4%.

The Philadelphia Semiconductor index was retreating 1.5%.

In corporate news, Dell (DELL) has put COO Jeff Clarke in charge of its Client Solutions Group, taking over from Sam Burd, Bloomberg reported, citing a memo sent to staff and confirmed by the company. The move was made amid slumping revenues for the unit, the report said. Dell shares were shedding 2.8%.