Tech stocks were slipping late Tuesday afternoon with the Technology Select Sector SPDR Fund (XLK) and the Philadelphia Semiconductor index each falling about 2.1%.
In corporate news, SoundHound AI (SOUN) dropped past 8% after the company disclosed its chief technology officer sold shares.
The US Federal Trade Commission and 17 state attorneys general sued Amazon.com (AMZN), accusing the e-commerce giant of using illegal tactics to maintain its dominance. Amazon shares fell past 4%.
Tesla (TSLA) and European automakers that ship electric vehicles made in China to the European Union are set to be included in an anti-subsidy investigation by the European Commission, the Financial Times reported Tuesday. Tesla shares fell 1.2%.
Hewlett Packard Enterprise (HPE) was awarded a $14 million US Army contract for a standalone computing system, according to a notice posted on the US Defense Department’s website. The company’s shares dropped 1.1%.
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