03:59 PM EDT, 09/20/2024 (MT Newswires) -- Tech stocks were falling late Friday afternoon, with the Technology Select Sector SPDR Fund (XLK) down 0.4% and the SPDR S&P Semiconductor ETF (XSD) dropping 1.8%.

The Philadelphia Semiconductor index fell 1.3%.

In corporate news, Alphabet's (GOOG) Google ( GOOG ) may face a formal complaint from EU regulators on the tech giant's search business model, Bloomberg reported Friday. Alphabet shares were rising 0.6%.

Enfusion ( ENFN ) shares jumped 7%. The company is exploring a potential sale among options after receiving takeover interest from potential buyers, including private equity firms, Reuters reported Friday.

A German court has ruled that Amazon.com ( AMZN ) is using Nokia's ( NOK ) patented video technology in its streaming devices without getting the necessary license, Reuters reported. Amazon ( AMZN ) shares were up 0.7%, and Nokia ( NOK ) added 0.8%.

Olo (OLO) shares rose 0.7% after the company said it will reduce its workforce by 9% to support its long-term growth objectives.