Vanguard Growth Index Fund ETF Shares is trading 1.5% down today as stronger-than-expected May U.S. jobs data pushed investors to price in fewer and later Fed rate cuts.
- Higher interest rate expectations are weighing on long-duration growth assets and high-valuation technology names.
- The ETF is sliding alongside a sharp Nasdaq decline, driven by its heavy exposure to information technology and mega-cap growth stocks.
- Continued weakness in semiconductors and other high-multiple sectors is further contributing to the downward pressure.