Robo Global Robotics and Automation Index ETF is trading at $84.03 (-5.14%) after a stronger-than-expected May jobs report reduced expectations for near-term Federal Reserve rate cuts.
- The fund is being hit by a broad risk-off move as the NASDAQ Composite fell 3.50% and growth-oriented stocks sold off.
- Elevated Treasury yields and a rotation out of high-valuation technology names are adding further pressure to automation and robotics equities.