🔴 SOXS is trading 10.1% down today as chip stocks extend AI-driven rally on strong earnings

SOXS is trading 10.1% down today as semiconductor and technology stocks continue a powerful AI-driven rebound following strong corporate results.

• Robust earnings from Microsoft and Amazon are driving significant gains in chip names and Nasdaq futures.
• Softer-than-expected PCE data has eased inflation concerns, further fueling the risk-on sentiment in the tech sector.
• The bearish 3x leveraged ETF is seeing sharp losses as the broader semiconductor industry extends its recovery from late July.