On August 28, ProShares Ultra Silver declined 8.13% in regular trading, trading at $83.41/share, with turnover of $444 million. The sharp drop was triggered by Fed Chair Kevin Warsh's hawkish remarks at the Jackson Hole Global Central Bank Symposium.

During his keynote address, Warsh stated that if policymakers cannot be confident underlying inflation is steadily returning to the 2% target, the Fed \"still has work to do.\" This was widely interpreted as the closest public acknowledgment that additional rate hikes may be necessary. His remarks pushed spot silver down over 1% and spot gold down as much as 1.2%, while traders repriced the probability of a September rate hike to approximately 50%, up from around 40% earlier in the session. Warsh noted that the PCE price index rose 3.7% over the past 12 months and 4.1% on a six-month annualized basis, underscoring persistent inflation well above target.

As a two-times leveraged product tracking silver, AGQ amplified the underlying metal's decline. The two-year Treasury yield climbed to its highest level in about a month following the speech.

ProShares Ultra Silver seeks daily investment results that correspond to two times the daily performance of silver bullion as measured by the Bloomberg Silver Subindex. The fund invests in financial instruments including swap agreements, futures contracts, and options rather than directly in any commodity.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)