Reddit, Inc. is trading 5.1% down at $174.62 as high-growth tech stocks face a sharp pullback amid fading expectations for near-term Fed rate cuts.
- The decline follows yesterday’s 8.5% surge, with shares now giving back gains as the Nasdaq slides on stronger-than-expected U.S. jobs data.
- Market sentiment has shifted toward a risk-off stance, leading to a broad sell-off in expensive growth names.