Direxion Daily Semiconductor Bull 3X Shares (SOXL) fell over 16% to a six-month low as the Nasdaq slid and QQQ dropped over 2% amid an oil price surge. Brent crude rose 2.3% to over $111 per barrel, and U.S. President Donald Trump blamed Iran, calling the surge a purposeful ploy ahead of the midterm elections. Wells Fargo said Nvidia CEO Jensen Huang's remarks that neoclouds face a scarcity of funding, not customers, spooked markets and revived concerns about credit and risk appetite. NVDA fell 3.8%, while SMH, SOXX and DRAM dropped 4.8%, 5.5% and almost 6%, and CoreWeave (CRWV) and Iren (IREN) hit fresh lows.
Summary written by Upside AI from the original article. Read the source for full details.
Original headline: SOXL Sinks To 6-Month Low As Nasdaq Slides Amid Oil Surge: Trump Blames Iran, But Wells Fargo Says Huang’s Comments Spooked Markets
Read the original on Yahoo Finance ↗
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oil pricesIranNVDACoreWeaveNasdaq
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Related tickers and likely impact
QQQ
▼ Likely negativeInvesco QQQ Trust
Relevance: high
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/21/2026 | 725.20 |
| Change that session | +1.05% |
NVDA
▼ Likely negativeNvidia
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Semiconductors |
| Market cap | $5.2T |
| Close on 10/21/2026 | 221.97 |
| Change that session | +2.54% |
SPY
▼ Likely negativeSPDR S&P 500 ETF
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/21/2026 | 773.09 |
| Change that session | +0.53% |
XAU/USD
▲ Likely positiveRelevance: low
| Market | Gold |
|---|---|
| Close on 10/21/2026 | 4,141.17 |
| Change that session | +0.39% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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