Sea Ltd is trading at $87.47 (-5.02%) as growth stocks sell off following stronger-than-expected May jobs data, which increased expectations that the Federal Reserve will maintain restrictive interest rates for longer.
- The robust labor market report has pressured high-valuation names, leading to a broad risk-off move across the U.S. market.
- Significant weakness in the Nasdaq, particularly within the tech and semiconductor sectors, is further weighing on sentiment for Sea Ltd shares.