🔴 3x Small-Cap ETF (TNA) is trading 2.4% down as hawkish rate signals lift Treasury yields

TNA is trading at $68.28 (-2.39%) as higher-rate expectations pressure rate-sensitive small caps.

• Russell 2000 weakness is weighing on TNA as rate-sensitive small caps underperform.
• Kevin Warsh’s hawkish Jackson Hole message raised September rate-hike expectations, lifting Treasury yields and borrowing-cost concerns.
• Renewed U.S.-Iran strikes pushed oil sharply higher and weakened global risk sentiment; the broader market is also lower, signaling a macro-driven decline rather than an isolated ETF event.