Why the drop?

aceirus : I’m puzzled too, maybe less then optimistic inflation data. But anyway remember this ETF is 2x leveraged

Nisdey OP aceirus : I'm aware of that. It wasn't the magnitude that surprised me, just that this ETF was affected at all. either way, dividend yield will just be higher at this price, which is why I'm in it at all. can DCA the capital loss over time, maybe there'll be a rebound over time

Nisdey OP aceirus : Trump announced that he wants to abolish the "debt ceiling".
I agree that the debt ceiling is a pointless concept, since it's not really a ceiling, just an arbitrary number that needs a law passed to increase. All it does is create controversy and cause government shutdowns while people pontificate about how much the debt the country is in, and politicians use it as an opportunity to wangle concessions out of whoever is in government at the time.

BUT it certainly [redacted] the bond market, and reignited concerns over inflation. So yeah. That's the reason.
And right after the Fed were all "hawkish" over interest rates.

Hawkish, why do we still use that antiquated word, and only ever in the context of interest rates.
I know what it means, but for some reason, it's also a valid way of saying that something "has a physical appearance reminiscent of a hawk".

But isn't that valid with all words, so anything can be blankish. Yet nobody says retangleish, or oblongular for that matter.