• TQQQ is trading 6.6% down today, reflecting the Nasdaq-100's drop of over 2.5% as a broad technology and AI risk-off sentiment hits global markets.
  • The sell-off is intensified by concerns over AI chip valuations and reports of SK Hynix planning to slow high-bandwidth memory (HBM) production, impacting major semiconductor stocks.
  • Investor sentiment is also influenced by growing expectations of further Federal Reserve interest rate hikes, signaling a rotation out of risk assets.