Tech stocks were lower late Friday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 1.4% and the State Street SPDR S&P Semiconductor ETF (XSD) down 2%.

The Philadelphia Semiconductor index slumped 3.3%.

In corporate news, Figma (FIG) shares were up 13% after it posted Q1 adjusted net income and revenue that surpassed analysts' estimates.