SpaceX shares plunged 23% in early trading, erasing approximately $600 billion from the company’s market capitalization in a single session.
The steep decline followed the aerospace giant’s announcement that it would issue bonds for the first time, a move that has triggered a significant repricing of the stock among investors.
3%, highlighting the concentration of selling pressure in growth and tech-heavy indices.
The sell-off at SpaceX rippled through US equity markets, dragging down the broader technology sector.
The Nasdaq Composite fell 1.32% to close at 26,166.60, while the S&P 500 retreated 0.4%.
In contrast, the Dow Jones Industrial Average managed a modest gain of 0.3%, highlighting the concentration of selling pressure in growth and tech-heavy indices.
The market reaction underscores the sensitivity of high-valuation private companies to changes in capital structure.