## [# ETFs Tumble as Manufacturing Data Spooks Markets](/sections/news/tech-etf-xlk-sinks-treasury-etf-tlt-pops-ahead-jobs-report)
# ETFs Tumble as Manufacturing Data Spooks Markets
- • LIVE COVERAGE
3 Updates
[  ](/authors/dj-shaw)
Sun, June 7, 2026 At 4:30 AM EDT
[DJ Shaw ](/authors/dj-shaw) | Finance Reporter | [ Follow Author ](/etf/login)
## VIXY surges, while SPY, QQQ and SMH plummet post-holiday.
Stocks fell sharply Tuesday as trading resumed after the Labor Day holiday, with weak U.S. manufacturing data rattling investors.
The [**ProShares VIX Short-Term Futures ETF (VIXY)**](/vixy) surged 21% as market fears escalated. This came after the Institute for Supply Management’s monthly survey showed only 47.2% of purchasing managers reported expansion, below the 50% breakeven point and the 47.9% consensus.
Major ETFs all had declines. The [**SPDR Dow Jones Industrial Average ETF Trust (DIA)**](/DIA) dropped 1.4% as the Dow closed over 600 points lower. The [**Invesco QQQ Trust (QQQ)**](/QQQ) fell 3%, marking the Nasdaq’s worst day since the Aug. 5 global market sell-off.
The [**SPDR S&P 500 ETF Trust (SPY)**](/SPY) declined 2%. Semiconductor stocks were hit particularly hard, with the [**VanEck Semiconductor ETF (SMH)**](/SMH) plummeting 7.6%. This drop was driven by steep declines in industry giants like Nvidia and Advanced Micro Devices, both down over 8%.
The [**United States Oil Fund LP (USO)**](/USO) fell 4.4% as crude oil futures erased all gains for the year. Meanwhile, the [**iShares Bitcoin Trust (IBIT)**](/IBIT) closed down 1.2% as Bitcoin’s price dipped 0.8% to $58,931.38. In contrast, the [**iShares 20+ Year Treasury Bond ETF (TLT)**](/TLT) rose 1.7%, as investors sought safer assets amid the market turmoil.
[  ](/authors/kent-thune)
Tue, September 3, 2024 At 1:30 PM EDT
[Kent Thune ](/authors/kent-thune) | CFP, Senior Content Editor | [ Follow Author ](/etf/login)
## Volatility, Risk-Off ETFs Lead to Start September Trading
September began in traditional fashion as volatility and risk-off ETFs generated big gains by midday trading, as the [**ProShares VIX Short-Term Futures ETF (VIXY)**](/vixy) jumped more than 11% and the [**Consumer Staples Select Sector SPDR Fund ETF (XLP)**](/xlp) rose nearly 1%.
These gains are in stark contrast to the riskier tech sector ETFs led by the Nvidia-powered [**VanEck Semiconductor ETF (SMH)**](/smh), down 6.4% in early afternoon trading.
"September has historically been the worst performing month for the S&P 500…since 1928, it’s finished higher only 43% of time with an average decline of 1.2%," Liz Ann Sonders, chief investment strategist at Charles Schwab, [noted on X](https://x.com/LizAnnSonders/status/1830937741267284360) (formerly Twitter).
Today's market trends may reflect caution among investors as the month's ominous history is getting a spotlight in financial news and social media.
[](/vixy)
[  ](/authors/kristin-myers)
Tue, September 3, 2024 At 12:15 PM EDT
[Kristin Myers ](/authors/kristin-myers) | SVP Content/EIC | [ Follow Author ](/etf/login)
## Tech Struggles While Fixed Income Moves Higher
Tech ETFs were sliding on Tuesday to kick off this month's trading.
Shortly after midday, XLK, the [**Technology Select Sector SPDR Fund**](/XLK), slumped 3.5% as investors took a pause ahead a jobs report scheduled for Friday.
MAGS, the [**Roundhill Magnificent Seven ETF**](/MAGS) also slid Tuesday, dropping nearly 2.5%.
On Friday, markets will pay close attention to the August jobs report, to see if the July jobs report was a one-time slip or a sign of a coming economic slowdown. With inflation largely under control, attention has turned to the labor market for future clues on the size of rate cuts from the Federal Reserve.
According to the [CME Fed Watch Tool](https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html), traders see a 63% chance that the rate cut will be small, at 25 basis points.
Tech led the way lower for markets Tuesday, according to the etf.com [Markets Monitor](/markets-monitor). Industrials, materials, and energy also struggled while consumer staples and utilities, benefitted. Those two sectors usually provide defensive positions for investor portfolios.
In broader markets, SPY, the [**SPDR S&P 500 ETF Trust**](/SPY) dropped 1.5%. QQQ, the tech-heavy [**Invesco QQQ Trust**](/QQQ) sunk nearly 2.5%. DIA, the [**SPDR Dow Jones Industrial Average ETF Trust**](/DIA) edged 1% higher.
With rate cuts on the horizon, fixed income also did well heading into midday trading. TLT, the [**IShares 20+ Year Treasury Bond ETF**](/TLT) rose 1.5% while the largest bond ETF, the [**IShares Core U.S. Aggregate Bond ETF**](/AGG) (AGG) notched an 0.4% rise.
[](https://www.etf.com/tools/etf-comparison/AGG-vs-TLT)
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