03:36 PM EST, 02/27/2026 (MT Newswires) -- Tech stocks fell late Friday afternoon with the State Street Technology Select Sector SPDR ETF (XLK) declining 1.5% and the State Street SPDR S&P Semiconductor ETF (XSD) dropping 2%.

The Philadelphia Semiconductor index shed 1.2%.

In corporate news, Zscaler ( ZS ) delivered strong fiscal Q2 results, beating the market's adjusted earnings and sales expectations. CFRA, an independent research provider, said that a slowdown in net new annual recurring revenue additions will be a "key investor concern." Zscaler ( ZS ) shares fell 13%.