Direxion Daily MSFT Bull 2X Shares is trading 5.3% down today as a stronger-than-expected May U.S. jobs report triggers a sharp sell-off in large-cap tech and growth stocks.
- The robust labor market data has led investors to price in fewer Fed rate cuts this year, with markets even contemplating a potential rate hike by late 2026.
- Rising Treasury yields and a broader risk-off sentiment are pressuring the Nasdaq and Microsoft-linked leveraged products, which target 2x the daily performance of Microsoft.