03:46 PM EST, 02/25/2025 (MT Newswires) -- Tech stocks were declining late Tuesday afternoon, with the Technology Select Sector SPDR Fund (XLK) decreasing 1.1% and the SPDR S&P Semiconductor ETF (XSD) falling 2.2%.

The Philadelphia Semiconductor index dropped 2.0%.

In corporate news, a federal judge on Tuesday denied Meta's (META) motion to dismiss a putative class action alleging that the company favors H-1B visa holders when hiring because it can pay them less than US citizens. Meta shares fell 1.3%.

IonQ ( IONQ ) is in advanced talks to buy ID Quantique for $250 million, Bloomberg reported. IonQ ( IONQ ) shares dropped past 4%.

Apple ( AAPL ) shareholders rejected outside proposals seeking to end the iPhone maker's diversity, equity and inclusion efforts, media reports said, citing the company's annual meeting held virtually on Tuesday. Apple ( AAPL ) shares were little changed.

Nvidia ( NVDA ) is seeing increased orders for its H20 artificial intelligence chip from Chinese companies like Alibaba (BABA), ByteDance and Tencent as demand for DeepSeek's low-cost AI models rises, Reuters reported. Nvidia ( NVDA ) shares were down 1.8%.