Key Points
The Direxion Daily Semiconductor Bull 3X Shares ETF (NYSEMKT: SOXL) is down 15% as of 12:10 p.m. ET today, following negative sentiment in the semiconductor sector. Major holdings including Micron (NASDAQ: MU), Advanced Micro Devices (NASDAQ: AMD), and Nvidia (NASDAQ: NVDA) have seen declines of 5.7%, 4.5%, and 2.8%, respectively, contributing to the ETF’s poor performance.
This downturn follows weekend comments from tech industry leaders Elon Musk, Dario Amodei, and Sam Altman, who advocated for a slowdown in artificial intelligence development due to its rapid advancement.
Amid the decline, other top-10 SOXL holdings such as Marvell Technology (NASDAQ: MRVL) and Applied Materials (NASDAQ: AMAT) experienced losses of approximately 6% each.
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