Direxion Daily Semiconductors Bull 3x Shares (SOXL) experienced a significant 24-hour plunge of 5.02% during the night session. The leveraged ETF, which aims to deliver three times the daily performance of semiconductor stocks, fell sharply as the broader technology sector faced selling pressure.

The decline came amid a broader market downturn where all three major U.S. stock indices closed lower, with technology stocks being particularly weak. Semiconductor companies including AMD dropped over 6% and Intel fell over 4%, contributing to the sector's weakness that directly impacted SOXL's performance.

Market sentiment turned negative during the trading session, with the Nasdaq Composite Index declining 0.94% as investors reduced exposure to technology and semiconductor stocks. The synchronized decline across major indices and semiconductor names created headwinds for the leveraged bull ETF, amplifying its downward movement.