🔴 Vanguard S&P 500 ETF is trading 1% down today as strong jobs data cools rate-cut hopes

Vanguard S&P 500 ETF is trading approximately 1% lower today as investors react to a stronger-than-expected U.S. May employment report.

• The U.S. economy added 172,000 jobs in May, significantly exceeding the 85,000 expected, while the unemployment rate held steady at 4.3%.
• Resilient labor data is prompting traders to scale back near-term Fed rate-cut expectations, lifting Treasury yields and pressuring equity valuations.
• The resulting risk-off move is weighing heavily on information technology and other growth sectors, which carry significant weight in the index.