Tech stocks declined Friday afternoon with the Technology Select Sector SPDR Fund (XLK) decreasing 1.6% and the Philadelphia Semiconductor index falling 2.6%.
In corporate news, Microsoft (MSFT) said Friday it completed its acquisition of Activision Blizzard (ATVI), which will become the company’s wholly owned subsidiary. Microsoft shares dropped 1.1%.
Nvidia (NVDA), Intel (INTC), Taiwan Semiconductor (TSM) and Qualcomm (QCOM) shares fell following a Reuters report Thursday that the Biden administration is planning to tighten rules on shipments of artificial intelligence chips to China.
Sigma Additive Solutions (SASI) shares more than doubled after the company agreed to buy NextTrip, a Florida-based travel technology company.
EHang (EH) shares jumped 21% after the company said the Civil Aviation Administration of China granted a type certificate for the company’s passenger-carrying unmanned aerial vehicle system.
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