TQQQ fell 14.28% on Friday, a drop that cut a $10,000 stake to about $8,570 as investors rushed out of leveraged tech exposure. ProShares UltraPro QQQ opened near $85.22 and finished at $73.05 after the Nasdaq-100’s slide was magnified into a far larger one-day loss.
The move landed in a market already primed for trouble. Invesco QQQ Trust fell 4.8% on Friday, its worst day since April 2025, after Broadcom’s light Q3 AI semiconductor revenue guidance on June 3 rattled the tech complex and Broadcom shares sank 13% to 15% the next day. Broadcom is a 5.57% weight in QQQ, with NVIDIA at 9.74%, Microsoft at 8.63% and Apple at 7.95%, so weakness in one of the index’s biggest AI names quickly spread across the fund.
Friday’s payrolls report added another layer of pressure. May nonfarm payrolls came in at 172,000, above an 80,000 estimate, a number that pushed rate expectations higher and kept a lid on growth stocks. By the close, the Nasdaq-100 had only 35 advancers against 65 decliners, while the S&P 500 ended with 257 advancers and 244 decliners, a sign that the day’s damage was concentrated in the market’s highest-beta corner.
That is the tradeoff inside TQQQ. The fund is built to deliver three times the daily return of the Nasdaq-100 before fees, and that leverage has worked brutally well in a rising market: a $10,000 stake from June 2016 is worth roughly $353,789 today, a 3,437.89% ten-year return. But the same structure that powers those gains can turn an ordinary index move into a punishing swing, and Friday showed that effect in one session.
The numbers still show how powerful the fund has been despite the selloff. TQQQ is up 38.79% year to date and 103.9% over the past year, while QQQ is up 14.77% this year and 34.35% over the last twelve months. Over the past week, though, TQQQ has fallen 13.61% versus a 4.5% slide for QQQ, a reminder that short bursts of volatility can overwhelm the longer-term trend.
What comes next is now the June 11 CPI report, the next clear test for the trade. A softer inflation reading could help TQQQ claw back some of Friday’s losses, but another hot number would likely keep rate-hike fears alive and put the Nasdaq-100 back under pressure, especially after a week in which a two-step selloff knocked both tech stocks and leveraged bulls at once.
