🔴 GigaCloud Technology is trading 5% down today as investors rotate away from growth stocks

GigaCloud Technology is trading at 5.01% down now at $49.46 after investors rotated away from consumer-discretionary and growth stocks.

• Walmart’s weaker-than-expected third-quarter outlook intensified concerns about consumer spending.
• Rising bond yields and broad risk reduction pressured equities.
• The S&P 500, Nasdaq Composite, and Dow Jones were all lower, with consumer discretionary among the session’s weakest sectors.