The ProShares UltraPro QQQ ETF (TQQQ) closed down 2.62% at $79.13 on December 31, 2024, as the Nasdaq 100 index fell 0.87% amid light trading and investor caution ahead of the New Year. The decline in the Nasdaq 100 was influenced by a broader market downturn, with global equities posting small moves and the S&P 500 and Nasdaq 100 both experiencing losses of over 1% on the previous day. The cautious sentiment reflects concerns about the sustainability of the US stock rally, driven by tech giants, and uncertainties surrounding 2025, including potential policy shifts under President-elect Donald Trump. Despite a year marked by significant gains in technology stocks, the market faced a rough patch in December, with stretched equity valuations and higher Treasury yields contributing to the decline.