🔴 SP Funds S&P 500 Sharia Industry Exclusions ETF is trading 3.1% down today as strong U.S. jobs data signals prolonged restrictive rates

SP Funds S&P 500 Sharia Industry Exclusions ETF is trading 3.1% down today as a much-stronger-than-expected U.S. jobs report on June 5, 2026, signaled that interest rates may remain restrictive for longer than anticipated.

• The fund is tracking a sharp decline in the broader S&P 500 and Nasdaq as investors dump high-valuation growth names in response to rising yield pressure and shifting Fed expectations.
• As a tech-heavy growth vehicle, the ETF is being hit by heavy selling in its core mega-cap holdings, including NVIDIA, Apple, Microsoft, Alphabet, and Broadcom.