SOXL is trading 4.6% down in pre-market trading as semiconductor names face pressure following a sharp tech-led selloff in Asia and softer U.S. equity futures.
- Investors are rotating out of chipmakers following a plunge in South Korea’s Kospi and growing concerns regarding potential overinvestment in the AI sector.
- Market participants are showing caution ahead of the 08:30 ET Employment Situation report, which may influence Federal Reserve interest rate expectations.
- High-beta technology exposures are under increased pressure as global macro headwinds weigh on sentiment ahead of key domestic economic data.