Direxion Daily Semiconductor Bear 3X Shares is trading 14.9% down today as semiconductor stocks extend a powerful rebound following a tentative U.S.–Iran peace agreement.
- The geopolitical breakthrough and subsequent reopening of the Strait of Hormuz have driven oil prices lower, easing global inflation fears and fueling a broad risk-on rally in equities.
- As a 3x leveraged bear fund, the strong upside move in the semiconductor sector is being amplified into outsized losses for the ETF.