[Underlying Index Performance]: QQQD.US aims to deliver 2x the inverse (opposite) daily performance of the Nasdaq-100. Therefore, the Nasdaq-100's movements are the primary driver. A falling Nasdaq-100 generally causes QQQD.US to increase in value.

[Leverage and Compounding]: The 2x leverage can amplify gains and losses compared to a non-leveraged inverse ETF. Daily resets mean the cumulative return over longer periods may deviate significantly from -2x the Nasdaq-100's performance due to compounding.

[Market Sentiment]: Overall investor risk appetite and bearish sentiment towards technology stocks significantly influence demand and price of QQQD.US. Strong bearish outlook boosts investment.

[Interest Rates]: Rising interest rates may negatively impact growth stocks that comprise the Nasdaq-100, indirectly benefiting QQQD.US as the underlying index falls.

[Trading Volume and Liquidity]: Higher trading volume and liquidity usually lead to tighter bid-ask spreads, which can make trading QQQD.US more efficient and potentially affect its price.