Direxion Daily Technology Bull 3X Shares is trading 7.8% lower as information technology stocks retreat following a major reassessment of AI and semiconductor valuations.
- Broadcom’s post-earnings plunge and subsequent profit-taking across AI chip names are pressuring the Nasdaq.
- Market rotation into value and industrials is magnifying downside for this 3x leveraged vehicle amid elevated geopolitical risk and risk-off positioning.