01:43 PM EST, 11/14/2024 (MT Newswires) -- Tech stocks were declining Thursday afternoon, with the Technology Select Sector SPDR Fund (XLK) down 0.1% and the SPDR S&P Semiconductor ETF (XSD) easing 0.3%.

The Philadelphia Semiconductor index rose 0.5%.

In corporate news, Meta (META) was fined 797.72 million euros ($842.1 million) by the European Commission for violating EU antitrust rules by tying Facebook Marketplace to Facebook and by imposing trading conditions on other online classified ads service providers it deems unfair. Meta shares were down 0.8%.

Super Micro Computer ( SMCI ) shares tumbled past 8%. The company said Wednesday it won't be able to timely file its quarterly report for the period ending Sept. 30 as it needs more time to complete financial statements and disclosures.

The US Federal Trade Commission is preparing to investigate anti-competitive practices at Microsoft's ( MSFT ) cloud-computing unit, the Financial Times reported. Microsoft ( MSFT ) shares were rising 0.3%.