Direxion Daily Semiconductors Bull 3x Shares (SOXL) plummeted 8.07% in pre-market trading on Tuesday, mirroring a broader decline in semiconductor stocks.
The selloff was part of a sector-wide downturn, with other chip stocks like Navitas, SMCI, AMD, ASML, Marvell Technology, and Broadcom also experiencing significant losses. The drop in SOXL, a leveraged ETF tracking semiconductor stocks, reflects heightened volatility and negative sentiment in the chip sector during the pre-market session.
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