Defiance Quantum ETF is trading 5.1% down today as hotter-than-expected U.S. jobs data and a selloff in AI-linked growth stocks pressure high-valuation technology sectors.
- Stronger-than-anticipated labor market data is fueling expectations for higher-for-longer interest rates, weighing heavily on interest-rate-sensitive tech and quantum computing names.
- Sector-wide profit-taking in AI and semiconductor stocks, triggered by Broadcom's recent earnings report, is further dragging down the Nasdaq and tech-focused funds.