Reported about 16 hours ago
Investors pulled over $340 million from the Direxion Daily Semiconductors Bull 3x Shares and nearly $485 million from the VanEck Semiconductor fund just before a significant market rebound. The withdrawals occurred as the US and China announced a 90-day tariff reduction to ease trade tensions, leading to a 24% surge in the semiconductor sector on Monday. Analysts are noting that despite strong revenue from companies like Taiwan Semiconductor Manufacturing Co., many investors were caught off guard by the quicker than expected tariff reductions.
Source: YAHOO