01:02 PM EDT, 09/02/2025 (MT Newswires) -- Tech stocks fell Tuesday afternoon with the Technology Select Sector SPDR Fund (XLK) down 1.7% and the SPDR S&P Semiconductor ETF (XSD) dropping 2.8%.

The Philadelphia Semiconductor index dropped 2.2%.

In corporate news, Nvidia's ( NVDA ) shares fell 3% amid reports that Alibaba ( BABA ) is developing its own integrated circuits to replace Nvidia's ( NVDA ) H20 chip. Alibaba ( BABA ) shares gained 1.6%.