03:31 PM EDT, 07/24/2026 (MT Newswires) -- Tech stocks were lower late Friday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) decreasing 1.7% and the State Street SPDR S&P Semiconductor ETF (XSD) falling 5.4%.

The Philadelphia Semiconductor index dropped 4.7%.

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 2.7%.

Oracle (ORCL) has secured a 10-year enterprise software contract worth about $7 billion with the US Department of Defense. Oracle shares were shedding 4.2%.

Salesforce ( CRM ) shares gained 4.4% after it said Friday the US Department of Veterans Affairs awarded the company, through its distribution network, a three-year $1.6 billion agentic enterprise license agreement.

SK Hynix ( SKHY ) and Samsung Electronics are set to sign large supply deals with US technology firms during President Lee Jae Myung's visit to San Francisco, several media outlets reported Friday, citing a senior presidential official. SK Hynix ( SKHY ) shares were down 9.2%.