On September 14, Direxion Daily MU Bull 2X Shares declined 9% in pre-market trading, trading at $28.43/share, with turnover of approximately $4.87 million.

The decline was driven by a broad selloff in the semiconductor sector during dark-pool trading, with underlying stock Micron Technology falling over 3% to around $945.79. SK Hynix dropped 3%, AMD fell over 2%, and Intel slid over 3%, as the chip sector came under heavy pressure. As a 2X leveraged ETF, the approximate 3%-5% decline in Micron was magnified to roughly 9% through the leverage mechanism.

Multiple headwinds converged on the sector: oil prices surged approximately 8%, the probability of a Fed rate hike climbed to over 71%, and major AI companies publicly called for slowing the pace of AI training — dampening sentiment across AI hardware and chip stocks. Micron's options market had also been signaling bearish sentiment recently, with a $26.93 million in-the-money put and dual call-selling combinations reflecting cautious institutional positioning ahead of its September 30 earnings report.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)