🔴 Small-Cap 3x ETF (TNA) is trading 3.1% down after hotter-than-expected CPI

TNA is trading at $54.85, down 3.07%, as hotter-than-expected September CPI weighed on rate-sensitive small caps.

• September CPI was 3.7% year over year, above the 3.6% expectation; core CPI was 2.6%, versus 2.5% forecast.
• The hotter report reduced confidence that the Fed will keep rates unchanged at its October meeting.
• TNA’s leveraged exposure amplifies moves in the small-cap market.