Tech Stocks' Relief Rally Crumbles: SOXL Craters 15%, AMD Sheds 6% As Recovery Fizzles

A brief morning pop in technology stocks evaporated Tuesday, leaving chip names and leveraged ETFs deep in the red as sellers reasserted control and snuffed out any hope of a sustained recovery.  The intraday pattern was unmistakable — an early bounce, a rejection at resistance and a hard fade that accelerated into midday. AMD stock is sinking. See the chart and price action here.   Some experts pointed to a rotation out of tech stocks as investors gather capital ahead of SpaceX's market debut on Friday.  "I think everybody's a little nervous ahead" of the SpaceX IPO, Jay Hatfield, CEO of Infrastructure Capital Advisors, told CNBC.  "I think we're going to be choppy until we get that behind us." data-variant="card" data-news-mode="manual" > Read Also: Tesla Stock Wobbles As Elon Musk Lines Up The SpaceX IPO Chip Rally Fades  The Direxion Daily Semiconductor Bull 3X ETF (AMEX: SOXL ) was the session’s most visible casualty, plunging $34.73 or 16.43% to $176.71 after tagging a session high of $231.01 at the open. The sheer range — nearly $55 from high to current price ... Full story available on Benzinga.com