01:35 PM EDT, 03/21/2025 (MT Newswires) -- Tech stocks declined Friday afternoon with the Technology Select Sector SPDR Fund (XLK) and the SPDR S&P Semiconductor ETF (XSD) both decreasing 0.4%.

The Philadelphia Semiconductor index fell 1.2%.

In sector news, the US Federal Communications Commission is probing multiple Chinese telecom companies, including Huawei and China Telecom, for allegedly avoiding restrictions on operations in the US, the Financial Times reported, citing FCC chair Brendan Carr.

In corporate news, Oracle (ORCL) and US investors in TikTok parent ByteDance are working on a deal to assure President Donald Trump that the app operates independently of Chinese control, the Financial Times reported. Oracle shares rose 0.1%.