08:48 AM EDT, 09/03/2024 (MT Newswires) -- Technology stocks were declining premarket Tuesday as the Technology Select Sector SPDR Fund (XLK) was down 0.8% and the SPDR S&P Semiconductor ETF (XSD) was 2.2% lower recently.

Intel ( INTC ) CEO Patrick Gelsinger is planning to put forth a plan later this month to rid the chipmaker of various businesses and change capital spending priorities, Reuters reported Sunday citing a source familiar with the matter. Intel ( INTC ) shares were down over 1% pre-bell.