SOXL is trading 18% down today as a global technology and semiconductor selloff accelerates, reversing recent gains amid a broad reassessment of AI-related profitability.
- Weakness in mega-cap tech and chip names, combined with a sharp overnight rout in Asian markets, is pressuring the underlying semiconductor index.
- As a 3x leveraged ETF, SOXL is seeing sector-level declines mechanically amplified into a much steeper intraday drop.