🔴 GraniteShares 2x Long MU Daily ETF is trading 27.8% down today amid a broad semiconductor slump and hawkish rate expectations

GraniteShares 2x Long MU Daily ETF is trading at $565.67 (-27.8%) as a sharp information technology selloff and sector-wide profit-taking weigh on growth-oriented assets.

• The move follows a stronger-than-expected May jobs report, which fueled expectations for higher interest rates and prompted a rotation away from high-growth technology stocks.
• The ETF is tracking a broader semiconductor decline triggered by Broadcom’s cautious AI outlook, with its 2x leverage adding extra sensitivity to the downward move in Micron-linked assets.
• Sector-wide profit-taking has further intensified the pressure on leveraged semiconductor instruments following recent rallies.