Direxion Daily Semiconductors Bull 3x Shares (SOXL) experienced a significant pre-market plunge of 6.55% on Monday, as the leveraged semiconductor ETF faced selling pressure.

The decline comes amid broader weakness in the semiconductor sector, particularly in Asia-Pacific markets where semiconductor stocks saw substantial losses. Multiple semiconductor shares in the region hit limit-down levels, with notable declines across the chip industry chain.

This sector-wide weakness in semiconductor stocks has created headwinds for the leveraged bull ETF, amplifying its downward movement during the pre-market session as investors reduced exposure to technology and semiconductor-related investments.