ProShares UltraPro QQQ, known by its ticker TQQQ, fell 14.28% on Friday as a selloff in the Nasdaq-100 hit leveraged traders hard. The fund opened near $85.22 and finished at $73.05, turning a $10,000 position into roughly $8,570 in a single session.
The drop tracked the Invesco QQQ Trust, which fell 4.8% for its worst day since April 2025. TQQQ is built to deliver three times the daily return of the Nasdaq-100 before fees, so a routine index decline can become a much steeper loss for holders. The fund also carries a 0.82% expense ratio, a reminder that the leverage comes with a cost even before the market moves against it.
Friday’s move came after Broadcom gave light guidance for its fiscal third-quarter AI semiconductor revenue on Wednesday, June 3, then saw its stock fall 13% to 15% on Thursday. Broadcom is a 5.57% weight in QQQ, while NVIDIA, Microsoft and Apple account for 9.74%, 8.63% and 7.95%, respectively, leaving the benchmark heavily exposed when big tech weakens at the same time. A hotter-than-expected May payrolls report, which showed 172,000 jobs against an 80,000 estimate, added another jolt to rate-sensitive assets.
The selloff was not broad enough to erase the year. TQQQ remains up 38.79% year-to-date and 103.9% over the past year, while QQQ is still up 14.77% this year and 34.35% over 12 months. But the weekly damage was real: TQQQ is down 13.61% over the past week, compared with a 4.5% drop in QQQ, underscoring how the leverage works both ways and how quickly gains can shrink when the Nasdaq-100 stumbles.
Bond yields helped keep the pressure on. The 2-year Treasury yield finished the week at 4.05% after touching 4.13% on May 22, and the 10-year yield sat at 4.47%, levels that can weigh on long-duration tech stocks whose valuations depend more heavily on future growth. The Nasdaq-100 closed Friday with 35 advancers and 65 decliners, while the S&P 500 finished with 257 gainers and 244 losers, a split that showed the damage was strongest in the technology names tied to the AI trade.
The next test is the June 11 CPI print, which could either deepen the selloff or give traders a reason to step back in. For TQQQ holders, the broader message from Friday is blunt: a fund designed to triple daily Nasdaq-100 moves can magnify a fast pullback into something far more painful than the index itself.
