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

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

A brief morning rally in technology stocks collapsed Tuesday as sellers reasserted control. The Semiconductor ETF (SOXL) plunged 16.43%, while chip stocks including AMD, Broadcom, and Qualcomm fell sharply. Experts attributed the selloff to a rotation out of tech ahead of SpaceX's Friday IPO debut. Only Meta managed modest gains while most large-cap tech stocks declined.

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