The ProShares UltraPro QQQ ETF (TQQQ) closed at $80.72 on February 3, 2025, down 2.42% as the Nasdaq 100 Index faced pressure from escalating trade tensions. The Nasdaq 100, which TQQQ tracks, fell 0.84% to 21,297.58, driven by President Trump's announcement of tariffs on Canada, Mexico, and China. These tariffs, set to take effect on February 4, have raised concerns about supply chain disruptions and increased costs for technology companies, which are heavily represented in the index. Major tech stocks like Apple, Nvidia, and Microsoft saw declines as investors reassessed their positions amid fears of earnings pressure and multiple compression. The market's cautious sentiment was further exacerbated by a stronger US dollar, which poses challenges for multinational tech companies by reducing the value of foreign earnings. Additionally, the delay in tariffs on Mexico provided some relief, but uncertainty remains high, contributing to increased volatility.