Direxion Daily Technology Bull 3X Shares is trading 10.9% down today as leveraged tech exposure amplifies a broad selloff in information technology and semiconductor stocks following Broadcom’s revenue miss and cautious AI outlook.
- Broadcom’s post-earnings plunge has triggered a wider retreat in chipmakers and megacap tech components, pressuring the Nasdaq and tech-heavy products.
- Investors are rotating out of high-valuation growth and AI names amid risk-off sentiment tied to labor-market data, shifting Fed-rate expectations, and recent U.S.–Iran tensions.
- Because the fund offers 3x daily exposure to the Technology Select Sector, weakness in major holdings like Broadcom and Micron is translating into outsized declines compared to the broader market.