Roundhill Magnificent Seven ETF is trading 3.2% down today as a stronger-than-expected May U.S. jobs report reinforces expectations that the Federal Reserve will keep interest rates higher for longer.
- Rising Treasury yields are pressuring rate-sensitive mega-cap tech leaders as markets rotate out of growth stocks.
- The Nasdaq is down sharply, with semiconductors facing renewed pressure following Broadcom’s reaction and broader tech weakness throughout the week.