08:53 AM EDT, 05/21/2025 (MT Newswires) -- Technology stocks fell pre-bell Wednesday with the Technology Select Sector SPDR Fund (XLK) 0.8% lower and the SPDR S&P Semiconductor ETF (XSD) down 1.6% recently.

Wolfspeed ( WOLF ) is preparing to file for bankruptcy in the coming weeks after rejecting creditor-led proposals to restructure its $6.5 billion in debt, The Wall Street Journal reported, citing unnamed sources familiar with the matter. Shares of Wolfspeed ( WOLF ) declined by more than 63% premarket.