Snowflake Inc. is trading 4.1% down at $8.11 as a stronger-than-expected U.S. jobs report triggers a broad selloff in growth and technology stocks.
- The robust labor market data has dampened expectations for near-term interest rate cuts, pulling the Nasdaq and other risk-sensitive assets sharply lower.
- The decline retraces a portion of the stock's late-May and early-June rally, which was previously fueled by a new AI partnership and positive analyst upgrades.