SOXL plummeted 14.81% today, closing at $215.19, as a broad selloff gripped the tech and AI sectors. The significant downturn was fueled by multiple factors: - Growing concerns over lofty AI valuations, high AI infrastructure costs, and a reported delay in OpenAI's IPO, collectively pressuring chipmakers and growth stocks. - Late-breaking headlines regarding potential 100% tariffs threatened by President Trump on countries taxing American tech firms further dampened market sentiment. - Individual constituent news also contributed, with ON Semiconductor (ON) plunging following its announcement of a $7 billion all-stock acquisition of Synaptics.