Stock Track | SOXS Plummets 7.64% Intraday as Semiconductor Stocks Rebound on Potential US-China Diplomatic Engagement

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Direxion Daily Semiconductors Bear 3x Shares (SOXS) plummeted 7.64% during intraday trading on Friday, reflecting significant downward pressure on this inverse semiconductor ETF.

The sharp decline occurred as semiconductor stocks staged a strong rebound in overnight and pre-market trading. The bullish counterpart SOXL rose alongside major chipmakers including Qualcomm, Microchip, Micron, Marvell, ARM, Applied Materials, and ASML, which posted gains ranging from 1% to over 3%.

Market sentiment toward the semiconductor sector received a potential boost from reports that the Trump administration is inviting CEOs from major technology companies including Nvidia, Apple, and Qualcomm to accompany the president on an upcoming trip to China. This diplomatic engagement is seen as potentially beneficial for the semiconductor industry, leading to the rally in chip stocks and corresponding decline in the inverse ETF SOXS.

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