Tech stocks dropped Friday afternoon with the Technology Select Sector SPDR Fund (XLK) falling 1.7% and the SPDR S&P Semiconductor ETF (XSD) slipping 1.9%. The Philadelphia Semiconductor index fell 2%.

In corporate news, Synopsys (SNPS) won approval from the European Commission for its $35 billion acquisition of Ansys (ANSS). The commission said the clearance was conditional on Synopsys and Ansys divesting some assets. Synopsys shares declined 1.6%, and Ansys shed 1.1%.

Infosys (INFY) filed a counterclaim against Cognizant (CTSH) in a US court, accusing the firm and its Chief Executive Ravi Kumar of anticompetitive tactics, media outlets reported. Infosys shares rose 0.6%, and Cognizant shed 0.3%.

Microsoft-backed (MSFT) OpenAI is facing a call by Tesla (TSLA) Chief Executive Elon Musk to auction off a major stake in its business to decide the fair value of its charitable assets during its corporate restructuring, Reuters reported Thursday. Microsoft shares were down 0.5%.