03:41 PM EST, 11/20/2024 (MT Newswires) -- Tech stocks dropped late Wednesday afternoon with the Technology Select Sector SPDR Fund (XLK) decreasing 0.3% and the SPDR S&P Semiconductor ETF (XSD) retreating 0.5%.

The Philadelphia Semiconductor Index declined 1%.

In corporate news, Alphabet's (GOOG) Google ( GOOG ) is facing calls from privacy-focused internet search engine DuckDuckGo for new probes into whether the tech giant was complying with the EU's rules. Google ( GOOG ) shares fell 1.5%.

Quantum Computing ( QUBT ) shares soared 45%. The company said Wednesday that it received its second purchase order from the University of Texas at Austin for its thin-film lithium niobate photonic chip foundry.

Palladyne AI ( PDYN ) and Red Cat ( RCAT ) said they were expanding partnership on self-flying drones to include joint go-to-market activities. Palladyne shares jumped nearly 12% and Red Cat ( RCAT ) surged 36%.

Keysight Technologies ( KEYS ) shares popped past nearly 8% after the company issued an upbeat fiscal Q1 outlook and reported better-than-expected results for the preceding three-month period.