04:00 PM EDT, 09/23/2025 (MT Newswires) -- Tech stocks fell late Tuesday afternoon with the Technology Select Sector SPDR Fund (XLK) decreasing 0.9% and the SPDR S&P Semiconductor ETF (XSD) declining 0.4%.

The Philadelphia Semiconductor Index dropped 0.4%.

In sector news, Royal Bank of Canada (RY) Chief Executive Dave McKay said the US plan to set a $100,000 fee on H-1B visas offers Canada a "material opportunity" to attract tech talent, Bloomberg reported.

Separately, the EU is set to examine whether Microsoft (MSFT), Apple (AAPL), Alphabet's (GOOG) Google, and Booking Holdings (BKNG) are doing enough to combat online financial fraud, the Financial Times reported.

In corporate news, Palantir ( PLTR ) shares rose 1.4% after BofA raised its price target on the stock to $215 from $180 and reiterated its buy rating.

Meta Platforms ( META ) formed a super PAC to fight state-level regulation that might hold back AI advancement, Axios reported. Meta shares were down 1.5%.

BigBear.ai ( BBAI ) shares jumped 14% after the company said it will deploy AI and orchestration tools to support the US Naval Forces Southern Command and the US 4th Fleet at UNITAS 2025.

Taiwan Semiconductor Manufacturing ( TSM ) is in talks with MediaTek to potentially make some of the mobile chipmaker's products in the US, Nikkei Asia reported Monday, citing a senior MediaTek executive. Taiwan Semiconductor shares gained 3.5%.