Direxion Daily MSFT Bull 2X Shares is trading 5.1% down today as higher-for-longer Fed expectations drive a sharp rotation out of growth and mega-cap technology stocks.
- A much-stronger-than-expected May U.S. jobs report has pushed Treasury yields higher and shifted rate-cut expectations further out, weighing heavily on Microsoft and related leveraged products.
- The decline comes amid a broad tech-led selloff, with the Nasdaq dropping over 2%, which has amplified the downside for this 2x leveraged ETF.