Leveraged semiconductor ETFs swung wildly on Tuesday after a sharp selloff in chip and memory stocks, including SanDisk Corp. (NASDAQ:SNDK) and Micron Technology Inc. (NASDAQ:MU) rattled one of Wall Street’s hottest AI trades, sending the bullish Direxion Daily Semiconductor Bull 3X ETF (NYSE:SOXL) sharply lower while boosting bearish counterpart Direxion Daily Semiconductor Bear 3X Shares (NYSE:SOXS).
The rout began after a senior South Korean official floated a proposal to redistribute artificial-intelligence profits from memory giants Samsung Electronics Co. and SK Hynix Inc. directly to citizens — a political headline that rapidly triggered a global repricing across semiconductor and AI-linked names.
The selloff was especially severe in memory-related names that had recently surged amid AI enthusiasm. Roundhill Memory ETF
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