ProShares UltraPro QQQ is trading 10.3% down today as high-growth tech stocks sell off sharply following stronger-than-expected May U.S. payroll gains, which have shifted market expectations toward a more hawkish Federal Reserve path.

  • The leveraged ETF is magnifying a roughly 3% decline in the Nasdaq-100, reflecting its 3x daily exposure to the tech-heavy index.
  • Broad semiconductor weakness and elevated Treasury yields are placing additional pressure on rate-sensitive growth names and leveraged tech exposure.