SOXL is trading 8.8% down today as the semiconductor sector faces a multi-day selloff driven by concerns over excessive AI capital expenditure and new tariffs on electronics.
- Newly announced tariffs on technology and electronics are weighing heavily on the broader semiconductor complex.
- Sentiment is further dampened by higher-for-longer interest rate fears and a rotation out of expensive AI-linked names.
- As a leveraged product, SOXL is magnifying the downside move of underlying chip indices during this pre-market session.