Direxion’s TECL Falls 19.93% as Leveraged ETF Reacts to Tech Sector Drop
Direxion Daily Technology Bull 3X Shares (TECL) dropped nearly 20% on June 5, mirroring a tripled version of the broader tech sector decline tracked by XLK (-6.66%). The sharp drop was driven primarily by Broadcom’s Q3 revenue guidance missing expectations and NVIDIA's stock falling 6%, which heavily impacted the top-heavy index TECL follows.
Tickers: $AVGO $GOOG $NVDA $TECL $XLK
Topics: ETFs leverage stock market crash TECL XLK