03:56 PM EST, 01/07/2025 (MT Newswires) -- Tech stocks were falling late Tuesday afternoon, with the Technology Select Sector SPDR Fund (XLK) dropping 2% and the SPDR S&P Semiconductor ETF (XSD) down 1.4%.

The Philadelphia Semiconductor index fell 1.9%.

In sector news, President-elect Donald Trump outlined a $20 billion foreign investment to build new data centers in the US, CNBC reported. DAMAC Properties founder Hussain Sajwani is pledging "at least" that amount, Trump said, according to CNBC.

In corporate news, Angi ( ANGI ) was ordered by the US District Court for the Southern District of New York to pay roughly $3 million to the Federal Trade Commission for allegedly misleading workers about hourly rates, according to a court filing Tuesday. Angi ( ANGI ) shares were down 2.7%.

Meta (META) said Tuesday that it will end its third-party fact-checking program in the US and introduce a more personalized approach to political content. Meta shares were falling 2.1%.

Apple ( AAPL ) executives held talks with Indonesia's industry minister to discuss a potential investment required to lift the country's ban on iPhone 16 sales, Reuters reported. Apple ( AAPL ) shares were down 1.4%.

Pure Storage ( PSTG ) said it's expanding its collaboration with Micron (MU) to provide products for hyperscale data centers. Pure Storage ( PSTG ) shares were shedding 2.6%, while Micron gained 2.7%.