Nasdaq 100 Set To Shed Over $1 Trillion As Tech Selloff Deepens; Spacex Slides

Nasdaq 100 Faces $1 Trillion Loss Amid Tech Selloff; SpaceX Takes a Hit

On Tuesday, technology stocks faced a wave of selling that positioned the Nasdaq 100 to lose over $1 trillion in market capitalization. In a significant downturn, SpaceX's valuation fell below $2 trillion for the first time since its initial public offering. The downturn was exacerbated by ongoing losses in chipmakers and major AI-related companies, raising concerns over valuations and interest rates.