03:23 PM EDT, 09/02/2025 (MT Newswires) -- Tech stocks retreated late Tuesday afternoon with the Technology Select Sector SPDR Fund (XLK) falling 1.4% and the SPDR S&P Semiconductor ETF (XSD) dropping 2%.

The Philadelphia Semiconductor index declined 1.7%.

In corporate news, the EU paused its plan to fine Alphabet's (GOOG) Google ( GOOG ) for allegedly abusing its dominant position in advertising technology due to fears that President Donald Trump will retaliate by derailing the bloc's trade deal with the US, Bloomberg reported. Alphabet shares fell 1%.