The ProShares UltraPro Short QQQ ETF (SQQQ) is experiencing upward movement as market conditions weigh on the technology-heavy Nasdaq-100 index, which the ETF inversely tracks. Renewed inflation fears in the U.S. have sparked volatility in the bond market, leading to a broader sell-off in risk assets, including tech stocks. The release of the Federal Reserve's December 18 meeting minutes revealed concerns about inflationary pressures, which have contributed to the cautious sentiment among investors. This environment has led to increased demand for inverse ETFs like SQQQ, which benefit from declines in the Nasdaq-100.
The SQQQ ETF rose to $30.59, marking a 0.72% increase as of 10:00 AM ET on January 9th.