Direxion Daily Technology Bull 3X Shares is trading 9.5% down today as a steep post-earnings plunge in Broadcom triggers broad semiconductor weakness, dragging major tech benchmarks and leveraged products.
- The decline marks the third straight day of losses for the information technology sector, with TECL's 3x leverage amplifying the downward move.
- Investors are locking in profits following a powerful AI-led rally amid growing uncertainty regarding U.S. jobs data and the Federal Reserve's future policy path.
- High-valuation growth and semiconductor names that dominate the ETF's underlying index remain under significant pressure.