Emerging-Market ETF Rises 1.29%, Leading US Asset-Class ETFs With Nasdaq 100

The standout here is the pairing: emerging-market equities outpacing US large-cap tech on the same session, while long-dollar and long-volatility positions sold off together. That combination points to a broad risk-on bid rather than a rotation into any single story, with the dollar's softness doing much of the work for non-US assets. Convertibles and small caps tracking close behind suggests the move was not confined to mega-cap leadership. Whether the dollar's decline persists is the open question, since EM leadership has tended to fade quickly when it reverses.