Spear Alpha ETF is trading 10.4% down today after a stronger-than-expected May U.S. jobs report triggered a sharp, macro-driven selloff in information technology and AI sectors.
- The robust labor market data has increased expectations for interest rate hikes, putting significant pressure on long-duration growth valuations.
- Major semiconductor holdings, including Broadcom, led the sector-wide decline as investors rotated out of high-growth tech names.
- The fund is experiencing additional downward pressure in after-hours trading, currently sitting near the lower end of its recent volatility range.