On July 17, Tradr 2X Long SNDK Daily ETF declined 9.05% in regular trading, trading at $14.2/share, with turnover of $800 million. The ETF is a 2x leveraged long product tracking SanDisk, and SanDisk's intraday drop of over 3% directly amplified losses through the leverage mechanism.

On the news front, SanDisk had already plunged 12.63% in the prior session, with selling pressure extending into the current day. TSMC's Q2 earnings report flagged annual capital expenditure exceeding $60 billion, far surpassing the market consensus of approximately $54 billion, sparking concerns over potential chip capacity oversupply. The warning intensified fears that the storage super-cycle may have peaked, with SK Hynix, Micron Technology, and Western Digital all falling sharply in tandem, reflecting broad-based selling pressure across the memory and storage sector.

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