The ProShares UltraPro Short QQQ ETF (SQQQ) is experiencing upward movement as technology stocks face pressure amid rising bond yields. The tech-heavy Nasdaq Composite saw a decline of 0.2% in early trading on January 8, 2025, as economic data spurred a jump in bond yields, leading to a selloff in tech stocks. The Federal Reserve's potential interest rate hikes, driven by inflationary concerns linked to President-elect Trump's economic policies, are adding to the market's volatility. The bond market's reaction, with the 20-year Treasury yield climbing above 5%, reflects growing concerns over government borrowing and spending, further impacting tech stocks.
The SQQQ ETF, which inversely tracks the Nasdaq-100 Index, rose to $30.46, marking a 0.30% increase from the previous close.