UVXY is trading at $17.12, up 3.49%, as hotter-than-expected September CPI revived concerns about higher-for-longer rates. - September CPI was 3.7% year over year, above the 3.6% forecast. - Asian shares and U.S. tech futures weakened in a risk-off move, with technology shares leading the global selloff. - UVXY seeks leveraged exposure to short-term VIX futures, making its gain consistent with heightened expected S&P 500 volatility.