Tradr 2X Long SNDK Daily ETF (SNXX) experienced a significant pre-market plunge of 11.55% on Friday, extending losses from the previous session.

The decline was driven by continued broad weakness across the semiconductor sector. SanDisk, the underlying stock tracked by this 2x leveraged ETF, has been under pressure alongside peers including Intel and Micron Technology. As a daily leveraged product designed to deliver twice the daily return of SanDisk, SNXX amplified the sector-wide losses, resulting in a steeper decline relative to the underlying stock.

The semiconductor sector selloff appears broad-based, with storage and chip names under particular pressure. No single company-specific catalyst was identified for SanDisk's decline, suggesting the move is largely sector-driven.