Tradr 2X Long SNDK Daily ETF (SNXX) experienced a significant 24-hour plunge of 8.92% during overnight trading on Thursday.

The decline was driven by broad weakness across the semiconductor sector. SanDisk, the underlying stock tracked by this 2x leveraged ETF, fell over 2% alongside peers including Intel and Micron Technology, which also dropped more than 2%. As a daily leveraged product designed to deliver twice the daily return of SanDisk, SNXX amplified the sector-wide losses, resulting in a steeper decline relative to the underlying stock.

The semiconductor sector selloff appeared broad-based, with storage and chip names under particular pressure. No single company-specific catalyst was identified for SanDisk's decline, suggesting the move was largely sector-driven.