ARK Innovation ETF is trading at $76.06 (-5.0%) as stronger-than-expected May jobs data reinforced a higher-for-longer Fed outlook, pressuring growth-oriented assets.
- Broad Nasdaq weakness and a selloff in high-valuation tech are weighing heavily on the fund's innovation-heavy holdings.
- A continued risk-off rotation from growth into value is amplifying losses in the ETF’s most interest-rate-sensitive names.