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MicroSectors FANG Innovation 3x ETN drops 18% in one day amid tech selloff and rising rates fears

Market News
08 Jun 2026
24/7 Wall Street
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Bearish
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The MicroSectors FANG Innovation 3x Leveraged ETN (BULZ) fell 18% on June 5, 2026, following a broad selloff in major tech stocks like NVIDIA, Broadcom, Tesla, Meta, and Amazon. This product amplifies daily index moves by three times, so a coordinated drop in its equal-weighted tech basket led to a sharp decline. The selloff was triggered by disappointing AI semiconductor guidance from Broadcom and a stronger-than-expected May payroll report, which pushed Treasury yields higher and raised concerns about future rate hikes. Investors should watch upcoming CPI data and Fed commentary, as these will influence whether the tech sector rebounds or continues to face pressure from rising rates and spending uncertainties.

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