Defiance Daily Target 2X Long RGTI ETF is trading 3.5% down at $31.23 in pre-market action, driven by broad tech sector weakness and continued volatility in the underlying Rigetti Computing (RGTI) stock.
- The decline extends losses following a significant drop on June 03, with the ETF falling below its previous close of $32.35.
- Market sentiment has shifted to risk-off for high-beta growth stocks as Nasdaq futures lead declines ahead of the U.S. Employment Situation report.
- Traders are bracing for potential yield increases following the jobs data, which could further pressure leveraged growth instruments.