MongoDB, Rapid7, DigitalOcean Shares Drop as Strong Jobs Data Cools Rate-Cut Hopes

Shares of MongoDB (MDB), Rapid7 (RPD), and DigitalOcean (DOCN) declined on June 6, 2026, after a stronger-than-expected U.S. jobs report signaled the Federal Reserve will likely keep interest rates higher for longer, pressuring growth stocks. The Labor Department reported 172,000 new nonfarm payroll jobs in May, significantly above the 85,000 economists had forecast, while the unemployment rate held steady at 4.3%. The robust data eases recession fears but reduces the probability of near-term rate cuts. Higher rates tend to diminish the present value of future earnings for technology companies, triggering a sell-off in the sector. DigitalOcean, which has logged 55 moves of more than 5% in the past year, fell amid the recalibration. The stock has surged 242% year-to-date and was trading near its 52-week high of $180.50. Its previous 5.6% single-day drop occurred after a hot April consumer-price index report similarly lowered rate-cut expectations. MongoDB and Rapid7 declined in sympathy as investors priced in prolonged monetary tightening.