Direxion Daily MU Bull 2X Shares is trading 6.5% down today as traders aggressively take profits following an extreme multi-day run in Micron and AI-related semiconductor names.
- The pullback is being amplified by the fund's 2x leverage and broader tech sector weakness after sharp reversals in semiconductors over the last several sessions.
- Investors are adopting a risk-off stance ahead of the key U.S. CPI inflation release, prompting a retreat from high-beta chip plays.