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Sector Update: Tech

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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 shed 4.7%.

In corporate news, 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 shares were down 8.9%.

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