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S&P 500 closes lower as tech stocks slide; SpaceX notches 3-day losing streak

The S&P 500 and Nasdaq ended lower as investors sold off megacap technology stocks and SpaceX shares. Alphabet, Amazon, and Nvidia faced selling pressure amid concerns over AI spending and high valuations. Market declines were also linked to a semiconductor sell-off.

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What changed

The S&P 500 and Nasdaq closed lower following a multi-day decline in SpaceX shares and a broader tech sell-off.

Live updates

  1. S&P 500 and Nasdaq Close Lower Amid Tech and SpaceX Sell-Off

    The S&P 500 and Nasdaq ended lower as investors sold off megacap technology stocks and SpaceX shares. Alphabet, Amazon, and Nvidia faced selling pressure amid concerns over AI spending and high valuations. Market declines were also linked to a semiconductor sell-off.

    What's confirmed:

    • The S&P 500 and Nasdaq closed lower.
    • Alphabet, Amazon, and Nvidia experienced selling pressure.
    • SpaceX shares experienced a multi-day decline.
    • Investors expressed concerns regarding AI spending and high valuations.

    Still unconfirmed:

    • The Nasdaq was down 2.2 percent at Tuesday's open.
    • The main index in South Korea plunged 10.5 percent.
    confidence 90%