SOXS is trading at $51.13 (+18.10%) as semiconductor stocks decline sharply after AI industry leaders urged a slower pace of development.

  • Nasdaq 100 futures fell about 1.6%, while chipmakers Intel, AMD, and Marvell Technology dropped roughly 5%-6% premarket, supporting the inverse ETF’s surge.
  • Rising oil prices and Treasury yields near multi-year highs are pressuring rate-sensitive technology shares.
  • Investors also await the Federal Reserve’s policy decision.