Growth and Momentum Stocks Are Getting Slammed

Funds targeting growth and momentum stocks were getting hit hard in Friday’s jobs report selloff.

The Invesco S&P Pure Growth ETF dropped 0.7%, while the iShares MSCI USA Momentum Factor ETF was down 0.7%. Other momentum-focused ETFs, which pick up stocks that have been rising recently, were struggling.

Among the S&P 500’s worst stocks were Advanced Micro Devices, Vistra, and Palantir. Nvidia and Robinhood Markets were also getting hit. Of course, more than half of the stocks in the S&P 500 were falling, so there weren’t many places to hide in Friday’s slide.