$SOXL just crashed 20.5% in a single day, one week after traders poured a record $3.8 billion into it

The 3x leveraged semiconductor ETF closed at $82.11 today, its worst day since June 23, per Yahoo Finance data

The record weekly inflow came during the week of Oct 16, as buyers piled in while the fund was already falling, per Seeking Alpha

$SOXL is now down about 73% from its June 22 high of $300.77

Chips led the whole selloff. The Philadelphia Semiconductor Index fell 6.7%, $AMD(AMD.US) dropped 8.1%, $Micron Tech(MU.US) 6.3% and $NVIDIA(NVDA.US) 4.4%

The Nasdaq 100 lost 2.9% for its worst day since June 23, while the Dow finished slightly green and $Apple(AAPL.US) closed at a record high

Leverage cuts both ways. Getting back to the June high would now take a 266% gain, and anyone who bought the dip last week with 3x exposure is already deep underwater

Source: StockMarket.News