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Markets tumble worldwide as Fed resets expectations: $400 billion wiped off SpaceX stock

Global markets tumbled after Federal Reserve Chair Kevin Warsh issued a hawkish first policy statement. The resulting tech sell-off wiped $400 billion from SpaceX's market value. SpaceX stock has fallen more than 2% and dropped below its IPO-day close.

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What changed

New Federal Reserve leadership triggered a global tech sell-off that significantly reduced SpaceX's valuation.

Live updates

  1. Global Markets Plunge as Fed Resets Expectations; SpaceX Loses $400 Billion

    Global markets tumbled after Federal Reserve Chair Kevin Warsh issued a hawkish first policy statement. The resulting tech sell-off wiped $400 billion from SpaceX's market value. SpaceX stock has fallen more than 2% and dropped below its IPO-day close.

    What's confirmed:

    • SpaceX lost $400 billion in market value.
    • Global markets declined following a reset of Federal Reserve expectations.
    • SpaceX stock dropped more than 2%.
    • The sell-off heavily impacted tech and growth stocks.

    Still unconfirmed:

    • SpaceX's market cap is heading below $2 trillion.
    confidence 90%