01:49 PM EDT, 07/24/2026 (MT Newswires) -- Tech stocks were lower Friday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) decreasing 0.3% and the State Street SPDR S&P Semiconductor ETF (XSD) falling 4.3%.

The Philadelphia Semiconductor index shed 2.7%.

In sector news, President Donald Trump said Friday on Truth Social his administration is opening a Section 301 investigation into the EU over fines it has levied against companies including Apple ( AAPL ) , Meta (META), Amazon.com ( AMZN ) and Alphabet's (GOOGL) Google. "The European Union will pay a very big price for this illegal and highly unethical conduct, which I have consistently warned them about," Trump said.

In corporate news, Qualcomm ( QCOM ) told customers it is raising prices by a percentage in the double digits, Bloomberg reported, citing a copy of a letter it viewed. Qualcomm ( QCOM ) shares were down 1.4%.

Oracle (ORCL) has secured a 10-year enterprise software contract worth about $7 billion with the US Department of Defense. Oracle shares were down 1%.

Amkor Technology ( AMKR ) shares fell 0.5%. The company said late Thursday it has launched a multiyear partnership with Nvidia (NVDA) to develop semiconductor packaging and test technologies for AI and accelerated computing platforms.