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Sector Update: Tech

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Tech stocks were lower late Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 2.1% and the State Street SPDR S&P Semiconductor ETF (XSD) dropping 3.6%.

The Philadelphia Semiconductor index slumped 5.5%.

In corporate news, Apple (AAPL) received a warning from Russia's anti-monopoly watchdog to address alleged discriminatory practices against Russian search engines and software, and failure to remedy the violations by July 15 could result in a fine of up to 4 billion roubles ($51.6 million), Reuters reported. Apple shares were up 1.8%.

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Sector Update: Financial Stocks Edge Lower Late Afternoon

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