🔴 Semiconductor Bear 3X ETF (SOXS) is trading 7.43% down today as semiconductor stocks rebound

SOXS is trading at $46.98 (-7.43%), as Nasdaq and semiconductor futures rebound after Monday’s sharp chip-stock selloff.

• Nasdaq-100 futures rose about 0.4%–0.6%, while technology shares recovered ahead of NVIDIA’s August 26 earnings report.
• The PHLX Semiconductor Index fell 2.70% on August 24, with NVIDIA down 2.94%, intensifying SOXS’s prior-session gain.
• Today’s risk-on reversal is pressuring SOXS as investors await U.S. consumer-confidence data and later-week inflation data.