🔴 SPXL is trading 4.7% down today on a tech-led selloff in mega-cap S&P 500 names

SPXL is trading 4.7% down today as a tech-led selloff in mega-cap names like NVIDIA and Microsoft triggers an outsized decline in the leveraged ETF.

• The fund, which aims for 3x the daily performance of the S&P 500, is seeing magnified losses as growth and information technology shares lead the broader market lower.
• Heavy effective exposure to Apple, Microsoft, and NVIDIA has made the product particularly sensitive to the current risk-off sentiment in the tech sector.
• The decline reflects a sharper drop compared to the underlying S&P 500 index due to the fund's 3x daily leverage reset.