Chip-stock bets lost $52 million in 10 minutes with Wall Street shut
Nearly $52 million in leveraged chip-stock and semiconductor-fund bets were liquidated in about 10 minutes on Saturday while Wall Street was closed. The move hit round-the-clock contracts and affected traders in off-hours markets when U.S. share prices were not available as a reference. [54165] [54203]
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Traders in round-the-clock chip-stock and semiconductor-fund contracts were the ones exposed on Saturday, because the liquidation hit while Wall Street was closed and U.S. share prices were not available as a live anchor. That is the context that would be visible to anyone holding or watching those positions the next morning.
In practice, the episode showed that leveraged semiconductor positions can be pushed through liquidation in off-hours trading, including SOXL-related contracts, even when U.S. markets are shut. What remains unchanged is that the contracts still trade outside Wall Street hours; what changed in this episode was the speed and scale of the wipeout.
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