🔴 State Street SPDR S&P Aerospace & Defense ETF is trading 3.1% down today on strong jobs data and defense sector de-risking

State Street SPDR S&P Aerospace & Defense ETF is trading 3.1% down today as a much-stronger-than-expected U.S. jobs report reinforces expectations for higher-for-longer interest rates, pressuring cyclical and rate-sensitive industrials.

• The ETF is giving back recent outperformance following a strong defense rotation, as elevated Treasury yields and a broad risk-off mood drive de-risking across the sector.
• Lingering Middle East tensions are further weighing on aerospace and defense names as investors pivot away from riskier industrial assets amid the shifting interest rate outlook.