Direxion Daily Small Cap Bull 3X Shares is trading 10.1% down today following a stronger-than-expected U.S. Employment Situation report that shifted market expectations toward a more hawkish Federal Reserve stance.
- The robust May payroll gains have triggered a broad selloff in high-beta small-cap stocks as investors pivot to a risk-off posture.
- As a leveraged fund providing 3x daily exposure to the Russell 2000 Index, the downward move in small-cap equities is significantly magnified in the ETF's price action.