🔴 Volatility ETF (UVIX) is trading 2.65% down as weak jobs data eased Fed hike pressure

UVIX is trading at $36.29, down -2.65%, as U.S. stocks rallied and reduced demand for volatility weighed on the ETF.

• September payrolls rose by 29,000, well below expectations, while unemployment increased to 4.2%.
• Markets treated the data as reducing pressure for an October Fed rate hike; Treasury yields fell and stocks rallied.
• Firmer equity futures had already weighed on UVIX pre-market. The decline appears market-driven, with no UVIX-specific catalyst identified.