Direxion Daily Semiconductor Bear 3X Shares is trading 10.3% down as semiconductor stocks and the broader Nasdaq bounce back from recent tech-sector weakness.
- A rebound in the PHLX Semiconductor Sector Index, fueled by strength in major chip names like Intel, is putting significant pressure on this 3x inverse leveraged product.
- Improved risk appetite and rising Nasdaq futures are driving short-covering across the semiconductor space, mechanically pulling the ETF lower in early trading sessions.