SOXL is trading 14.8% down today as the information technology sector faces heavy pressure from a broad tech and AI-related selloff affecting semiconductor and growth names.
- Concerns over rising AI infrastructure and memory costs, as well as price hikes from major hardware makers, are driving sector-wide weakness.
- The decline is hitting leveraged ETFs like SOXL disproportionately, with pre-market drops across multiple tech stocks confirming broad selling rather than instrument-specific news.
- Analysts also attribute the downward move to profit-taking following recent significant gains in the AI and semiconductor space.