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Tariff Concerns Weigh on SSO, Down 1.11%

The announcement of new tariffs set to take effect on February 1 has created a risk-off sentiment in the US equity markets, leading to a broad sell-off. The S&P 500 has been particularly affected, with most sectors experiencing declines, especially the energy sector, which is vulnerable to global trade disruptions. The imposition of tariffs has raised concerns about potential earnings declines due to increased costs, prompting investors to adopt a more cautious stance. This environment has seen value stocks underperform growth stocks, as the latter are perceived to have better long-term prospects despite short-term volatility. Additionally, small-cap stocks are lagging behind their large-cap counterparts, as smaller companies often have less diversified revenue streams and are more susceptible to cost pressures from tariffs.

The ProShares Ultra S&P500 (SSO) ETF experienced a decline, closing at $96.89, down 1.11% from its previous close of $97.98, as of 16:20 on Friday, January 31.