Direxion Daily Technology Bull 3X Shares is trading 2.0% down today as investors continue to dump high-beta technology exposure following a sharp multi-day selloff tied to interest-rate repricing and semiconductor weakness.
- A much-stronger-than-expected May U.S. jobs report has reinforced expectations that the Federal Reserve will keep policy restrictive for longer, pressuring growth and AI-linked tech stocks.
- Semiconductor weakness, exacerbated by Broadcom’s guidance-related slide, continues to drag leveraged technology ETFs lower.
- The decline reflects a broader shift away from high-beta exposure as the market adjusts to a more hawkish interest-rate outlook.