The Nasdaq fell more than 2% in its worst session since July, with money rotating into Treasuries and yields easing. Reporting attributes the drop to two overlapping threads: investors questioning the return on AI capital expenditure, and oil rising on renewed Middle East tension. Funds concentrated in AI names fell harder than the broader market, pointing to pressure on crowded growth positions.
CNBC, The Wall Street Journal and Yahoo Finance reported that US stocks sold off broadly on Tuesday, with the Dow Jones Industrial Average dropping more than 500 points and the US 10-year Treasury yield climbing to its highest level since 2008. The 30-year yield simultaneously hit a fresh 24-year high, pushing mortgage rates higher and amplifying market concerns over sticky inflation and fiscal deficits.
According to CNBC, after the Nasdaq hit a new record high, US stock futures rose broadly across Asian trading hours. Investor expectations for Fed rate cuts and continued bullish outlook on AI sector drove market sentiment higher.
Shareholders of Armada Acquisition Corp. II have approved the merger with XRP treasury company Evernorth, clearing the path for the platform that is expected to hold roughly 473 million XRP to list on Nasdaq. The deal marks a new phase of XRP institutionalization and is expected to bring meaningful liquidity, market-making depth, and institutional custody standard upgrades to the XRP ecosystem.
The Nasdaq composite hit another all-time high on continued AI-driven tech strength, while oil fell for a fifth straight day and pressured energy names, leaving the S&P 500 essentially flat amid sharp sector divergence.
Evernorth completes SEC registration, approaching Nasdaq listing
South Korean chip giant SK Hynix announced a US listing on NASDAQ, planning to raise $26.5 billion, setting a record as the largest initial public offering by a foreign company in US history.
SpaceX Stock Tumbles 16.4%, Erasing Most IPO Gains SpaceX shares plunged 16.4% in Monday trading, marking the company’s worst single-day decline since its historic $75 billion IPO on June 12. The selloff erased most of the gains the stock had accumulated since going public on NASDAQ. According to CNBC and Yahoo Finance, the stock came under heavy selling pressure throughout the session, extending a three-day losing streak that has brought the cumulative decline to nearly 20%. The drop coincided with a broader weakness in technology stocks, with the S&P 500 closing lower on the day. ...
SpaceX Launches First Bond Offering After Record $75B IPO SpaceX announced on June 22 the launch of its first-ever senior unsecured notes offering, marking the company’s debut in debt capital markets following its record $75 billion IPO earlier this month. The notes represent unsecured debt ranking equally with all existing and future unsecured obligations. Proceeds will be used to repay existing bridge loan balances, with the offering available only to “qualified institutional buyers.” ...
Core Summary SpaceX officially began trading on the Nasdaq on June 12, 2026, priced at $135 per share — well above the previously expected range of $110-$125. The listing propelled founder Elon Musk’s net worth past the one-trillion-dollar mark on paper, making him the world’s first trillionaire. The milestone not only shattered tech IPO records but also signaled the space economy’s formal entry into public capital markets. Event Details According to Business Insider’s live coverage, the final IPO price of $135 per share exceeded analyst expectations. Combined retail and institutional subscriptions surpassed the previously disclosed $70 billion threshold, reflecting strong market confidence in the space industry’s commercial prospects. ...