2倍做多MU ETF-Direxion（MUU）今日盘中大跌11.36%，引起了市场的广泛关注。该ETF为追踪美光科技的两倍杠杆做多产品，其价格波动通常较底层标的更为剧烈。
消息面上，此次大跌主要源于半导体板块遭遇全线回调。板块回调的催化剂之一是韩国总统府政策首席秘书建议向人工智能（AI）利润征税并分配给国民，此举引发了市场对芯片制造商可能面临额外税负的担忧，导致相关市场情绪紧张。此外，知名投资人Michael Burry警告当前市场情形类似互联网泡沫破裂前的高点，而费城半导体指数自3月底以来已大幅上涨，纳斯达克100指数市盈率也远超合理水平，板块估值过高的担忧加剧了此次动量修正。
作为杠杆产品，MUU的跌幅在半导体板块普跌和多重负面情绪的压力下被进一步放大。费城半导体指数的显著下跌与做空半导体ETF的大涨，均反映出市场对半导体行业短期前景的悲观预期。
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