Direxion Daily Semiconductor Bull 3X Shares is trading 0.5% down today as the semiconductor sector faces continued pressure following an extreme three-day rout tied to rising interest-rate concerns.
- The move reflects follow-through from a $1.3 trillion chip sector wipeout triggered by a stronger-than-expected May jobs report, which increased the odds of further rate hikes.
- Investors are continuing to reprice for a higher-for-longer Federal Reserve policy, placing significant pressure on high-growth and AI-related technology names.
- With no major U.S. economic data scheduled for June 08, the ETF's underlying index remains sensitive to the negative momentum established late last week.