Semiconductors struggling this afternoon on bad China trade news

Tech stocks took a dive this afternoon as the market absorbed today's bad news about the China trade war. Not only do headlines suggest that both Trump and China are taking hardline stances, but they also declare that tariffs won't cover the cost of the trade war and that Trump is making it hard for tech and retail firms to limit China exposure. This is particularly bad for semiconductors, and it also hit one of my top picks, online retailer Stitch Fix.

SOXL seems to be holding support so far, but watch out for a possible downward channel break.