🔴 ProShares UltraPro QQQ is trading 5% down as U.S.-Iran tensions and pre-CPI jitters fuel risk-off mood

ProShares UltraPro QQQ is trading 5% lower today due to a convergence of significant risk-off catalysts ahead of the U.S. CPI data release at 08:30 ET.

• Overnight sentiment was hit by news of U.S. military strikes against Iran, rattling global markets and prompting a flight from risky assets.
• The decline is amplified by investor caution ahead of the key inflation data, leading to broad de-risking in leveraged tech-linked ETFs.
• The ETF's 3x leveraged structure is exacerbating losses from a weak Nasdaq-100 futures tape, which follows a sharp intraday tech reversal on June 9.