SOXL is trading at $103.46 (-5.55%) as semiconductor stocks face renewed pressure from investors reassessing AI capex returns and rising competition from China’s chip industry.
- The decline follows a broad regional selloff in Asia, with Samsung and SK Hynix sharply lower and U.S. peers like Micron, AMD, and Intel weakening in pre-market trading.
- Broader tech caution is mounting ahead of the Fed’s July 29 meeting, while higher oil prices and geopolitical tensions add to risk-off sentiment across growth stocks.