Why Nasdaq-100 Leveraged ETF TQQQ Is Down 6%
Portfolio Pulse from Henry Khederian
ProShares UltraPro QQQ (TQQQ) shares are down by approximately 6% after Fitch Ratings downgraded the United States' long-term credit rating from AAA to AA+. This move has sent shockwaves through global markets and has affected the nation's fiscal management.
August 04, 2023 | 11:43 am
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TQQQ shares are trading lower due to the downgrade of the US long-term credit rating by Fitch Ratings.
The downgrade of the US long-term credit rating by Fitch Ratings has led to a decrease in the value of TQQQ shares. This is because the downgrade indicates a higher risk of default, which can lead to a decrease in investor confidence and a subsequent drop in stock prices.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100