ProShares Ultra Semiconductors is trading 8.9% down today as information technology, its largest sector weight, sells off following disappointing reactions to AI chip earnings and renewed profit-taking in high-growth names.
- Broadcom’s post-earnings slide and broader weakness across semiconductor and AI leaders are dragging the Nasdaq lower and spilling over into leveraged tech products.
- Geopolitical tensions between the U.S. and Iran are further pressuring risk assets, reinforcing a rotation out of growth and into more defensive and industrial stocks.