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Elon Musk has seen $350bn (£264bn) shaved off his net worth as SpaceX share prices have slumped. Mr Musk became the world's first trillionaire, and is likely to have been the wealthiest person ever, when SpaceX made its debut on the New York Stock Exchange earlier this month.
Market Awaits Services and Manufacturing Numbers.
The Dow was up 50 points, or 0.1%, and on the upswing after dropping at the open. The S&P 500 was down 0.7%, while the Nasdaq was down 1.2%. The iShares Semiconductor ETF was still down 5.8%, but consumer staples, health care, real estate, utilities, financials, and communication services were all posting solid gains.
Shares are hurtling back to earth as investors grapple with a lofty valuation for a company that’s not expected to turn a profit until 2028.
The tech-heavy Nasdaq Composite was down more than 2% at the time of writing, on track for its second-worst single-day performance after tanking 4% earlier this month.
Losses spread globally as investors questioned soaring valuations and spending on AI infrastructure
June 23 (Reuters) - Wall Street's main indexes opened lower on Tuesday, following sharp losses in megacap and semiconductor stocks as investors braced for a more hawkish Federal Reserve and
A selloff in highflying semiconductor stocks gripped Wall Street Tuesday morning. The Nasdaq Composite tumbled 2.4%. The S&P 500 fell 1.6%. The Dow dropped 371 points, or 0.7%. The Nasdaq 100 was on pace to shed more than $1 trillion in market cap.
Tech stocks led the losses on Tuesday as investors went risk-off.
AI Chip Boom Wobbles: Micron Stock Hit Hard as Investors Dump Semiconductor Leaders
US stocks looked set for a sharply weaker open on Tuesday as a sell-off in technology shares deepens across global markets. Futures point to losses for the Nasdaq 100 of around 849 points, or 2.8%, while the S&P 500 is set to shed 1.3% and the Dow Jones to drop 0.4%. The weakness...
US equity futures were lower pre-bell Tuesday amid a sell-off in tech stocks and ongoing peace negot
Pre-Market Stock Futures: Futures are trading lower after a mixed start to trading on Monday, following the holiday-shortened week due to the Juneteenth Federal holiday. We may start to see some end-of-the-quarter reallocations and selling for Hedge funds, ETFs, and Mutual Funds this week, and today looks like a starting point. With most corporate buybacks ... Here Are Tuesday’s Best Wall Street Analyst Research Calls: Centene, Darden Restaurants, Flutter Entertainment, GE Healthcare, IBM, Nike,
Protecting your portfolio may be simpler than you think.
Wall Street futures sagged pre-bell Tuesday as traders went risk-off, and backed away from rich valu
The Nasdaq 100 index was on pace to erase more than $1 trillion in market value on Tuesday as technology heavyweights and chip stocks tumbled, while Elon Musk's SpaceX dropped below $2 trillion in market cap for the first time since its U.S. debut. SpaceX, which is expected to join the Nasdaq 100, has lost more than $600 billion in market value in the past three sessions. It last had a market valuation of $1.95 trillion, if the day's losses hold.
By Amanda Cooper LONDON, June 23 (Reuters) - Global stocks fell on Tuesday, led by broad-based declines in technology stocks, as investors expect the Federal Reserve to take more aggressive action to
Stocktwits data showed retail sentiment has turned cautious, sinking to ‘bearish’ on SPY and ‘neutral’ on QQQ.
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