09:05 AM EDT, 07/17/2024 (MT Newswires) -- Technology stocks were declining premarket Wednesday, with the Technology Select Sector SPDR Fund ( XLK ) down 2.1% and the SPDR S&P Semiconductor ETF ( XSD ) 0.7% lower recently.

GitLab ( GTLB ) is considering a sale after attracting acquisition interest, Reuters reported, citing people familiar with the matter. GitLab ( GTLB ) rose more than 13% pre-bell.

ASML ( ASML ) could be targeted with the most severe trade restrictions by the US government if it continues providing China with access to advanced semiconductor technology, Bloomberg reported late Tuesday, citing people familiar with recent discussions. ASML ( ASML ) was over 8% lower pre-bell.

Taiwan Semiconductor Manufacturing Company ( TSM ) was down more 5% after Donald Trump told Bloomberg Businessweek that Taiwan should pay the US for its defense as "it doesn't give us anything."