Direxion Daily Semiconductors Bear 3x Shares (SOXS) surged 5.07% in pre-market trading on Monday, as investors sought shelter in inverse ETFs amid a sharp market sell-off. The leveraged ETF, which aims to deliver three times the inverse daily performance of the ICE Semiconductor Index, benefited from the declining semiconductor sector.

The rise in SOXS comes as part of a broader trend of inverse ETFs gaining ground during Monday's market turbulence. The VIX index, often referred to as Wall Street's "fear gauge," jumped 15%, indicating heightened market volatility and investor anxiety. This risk-off sentiment drove traders towards bearish ETFs designed to profit from market declines.

While SOXS's pre-market gain of 5.07% is significant, it's worth noting that the ETF had shown even stronger performance earlier in the morning session, with reports indicating a rise of up to 16%. This surge underscores the intense selling pressure faced by semiconductor stocks and the broader technology sector. As an inverse and leveraged product, SOXS amplifies the downward movement of semiconductor stocks, making it a popular choice for traders looking to hedge against or profit from sector weakness.