01:18 PM EST, 11/04/2025 (MT Newswires) -- Tech stocks were falling Tuesday afternoon, with the Technology Select Sector SPDR Fund (XLK) down 2.3% and the SPDR S&P Semiconductor ETF (XSD) dropping 3.9%.

The Philadelphia Semiconductor index declined 2.8%.

In corporate news, Palantir Technologies' ( PLTR ) shares were falling 7.6% despite the company's market-beating Q3 results overnight. "Investors questioned lofty valuations in the technology sector after major Wall Street banks warned of a possible selloff and Palantir's ( PLTR ) subdued sales forecast dampened sentiment around artificial intelligence plays," a research note from D.A. Davidson said early Tuesday.