SOXL is trading 6.7% down today as information technology and semiconductor stocks extend a sharp multi-day reversal from AI-driven highs.
- Overnight weakness in chip names and broader Nasdaq futures declines are prompting profit-taking and de-risking in richly valued tech assets.
- Rising rate-hike odds ahead of the upcoming FOMC minutes are fueling broader market volatility and sector-wide selling.
- The 3x leveraged nature of the ETF is amplifying the downward pressure as the semiconductor sector pulls back from recent peaks.