01:20 PM EDT, 10/10/2025 (MT Newswires) -- Tech stocks were falling Friday afternoon, with the Technology Select Sector SPDR Fund (XLK) down 2.9% and the SPDR S&P Semiconductor ETF (XSD) dropping 4.6%.

The Philadelphia Semiconductor index slumped 4.4%.

In corporate news, Nvidia's ( NVDA ) AI processors and other shipments from the US are being subject to stringent checks in China, as the country mobilizes customs officers to implement tighter controls on chip imports, the Financial Times reported. Separately, the US Senate passed a bipartisan amendment Thursday that would require Nvidia ( NVDA ) and Advanced Micro Devices ( AMD ) to prioritize US companies over Chinese buyers. Nvidia ( NVDA ) shares fell 2.5%, while AMD dropped 5.9%.