Sector Update: Tech Stocks Decline Premarket Friday

09:05 AM EDT, 10/16/2026 (MT Newswires) -- Technology stocks were declining premarket Friday, with the State Street Technology Select Sector SPDR Fund (XLK) down 0.3% and the iShares Semiconductor ETF (SOXX) 1.5% lower. CoreWeave (CRWV) co-founders Michael Intrator, Brian Venturo and Brannin McBee have sold $3.3 billion in company shares since its March 2025 initial public offering, including $2.4 billion in 2026, Bloomberg reported. Shares of CoreWeave were down more than 5% pre-bell. Semtech (SMTC) stock was up more than 3% after the company raised its fiscal Q3 adjusted diluted earnings and revenue outlook. Sony Group (SONY) shares were up more than 1% after the company said it is launching new Walkman digital media players featuring premium audio components throughout their design.