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SpaceX extends losses after $600 billion wipeout, tech stocks slide again

SpaceX shares continued to decline on Tuesday after a three-session selloff. The company lost more than $600 billion in market value over three days. This decline coincided with a broader downturn in U.S. chip stocks and the technology sector.

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What changed

SpaceX extended its losses on Tuesday following a three-day period of significant value loss.

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  1. SpaceX Shares Slide Further Following $600 Billion Wipeout

    SpaceX shares continued to decline on Tuesday after a three-session selloff. The company lost more than $600 billion in market value over three days. This decline coincided with a broader downturn in U.S. chip stocks and the technology sector.

    What's confirmed:

    • SpaceX market value dropped by more than $600 billion over three sessions.
    • SpaceX shares declined further on Tuesday.
    • The Nasdaq Composite index fell 2.2% on Tuesday.
    • The semiconductor index declined 7.9% on Tuesday.

    Still unconfirmed:

    • SpaceX is tapping the bond market.
    • SpaceX shares plunged 16% on Monday to close at $154.60.
    • The Nasdaq 100 is set to shed over $1 trillion.
    • SpaceX experienced a $1 trillion wipeout from $3 trillion to $2 trillion.
    confidence 80%