Chip Stocks Are Sinking, but This Bearish ETF Is Up More Than 25%
247wallst.com's article reports that chip stocks sold off on November 5, 2026 — with AMD down 13%, NVIDIA down 7%, and, per CNBC, Qualcomm down 9% after a light forecast — as investors feared a Democratic-controlled Congress could tighten AI rules and slow data center construction, sending the Direxion Daily Semiconductor Bear 3X ETF up 26.38% to $73.73. 24/7 Wall St. cautions that the leveraged fund is nonetheless down 87.86% year to date, and tells anyone tempted to chase the move to weigh both its one-day jump and its longer record.
