Tradr 2X Long SNDK Daily ETF (SNXX) plummeted 12.08% during intraday trading on Monday, reflecting significant downward pressure on the leveraged exchange-traded fund.

The sharp decline was driven by continued broad weakness across the semiconductor sector, which has weighed heavily on storage names like SanDisk and, by extension, products that track its performance. The storage sector has faced sustained selling pressure in recent sessions, contributing to the ETF's substantial drop.

As a 2x leveraged ETF designed to deliver twice the daily return of SanDisk, SNXX inherently amplifies both gains and losses in the underlying stock, making it particularly sensitive to sector-wide selloffs.