SOXL liquidations lead $52M chip-stock wipeout in 10 minutes while Wall Street was closed

Roughly $52 million in leveraged semiconductor positions, led by SOXL, were liquidated within about 10 minutes during off-hours trading while Wall Street was closed. The episode highlights how thin liquidity outside regular market hours can amplify forced selling in leveraged products. Traders may treat it as a warning about holding leveraged semiconductor exposure, including perpetual contracts tied to chip assets, when underlying markets are shut.