Chip-stock bets lost $52 million in 10 minutes with Wall Street shut

Leveraged positions in semiconductor assets faced a significant wipeout as SOXL liquidations resulted in $52 million in losses within ten minutes. This volatility occurred while Wall Street was closed, highlighting the inherent risks associated with off-hours trading. Such rapid financial losses may potentially deter investors from utilizing perpetual contracts for chip-stock bets. The incident underscores the dangers of high-leverage strategies in volatile markets, specifically within the semiconductor sector during periods of limited market liquidity.