Tech stocks fell in Friday afternoon trading with the Technology Select Sector SPDR Fund (XLK) decreasing 0.8% and the SPDR S&P Semiconductor ETF (XSD) dropping 2.4%.
The Philadelphia Semiconductor index declined 1.8%.
In corporate news, Amazon.com (AMZN) reported higher Q4 earnings and net sales late Thursday and issued Q1 net sales guidance below expectations by analysts. The shares fell 3.8%.
Microsoft-backed (MSFT) OpenAI is set to receive a $40 billion primary investment from SoftBank at a $260 billion pre-money valuation, CNBC's David Faber reported. Microsoft shares fell 1.6%.
Pinterest (PINS) shares jumped 17%, a day after the company forecast double-digit Q1 revenue growth and posted better-than-expected sales in Q4.
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