{"id":63550,"date":"2026-06-22T11:08:15","date_gmt":"2026-06-22T15:08:15","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/tech-sector-slump-and-spacex-volatility-weigh-on-u-s-markets\/63550\/"},"modified":"2026-06-22T11:08:15","modified_gmt":"2026-06-22T15:08:15","slug":"tech-sector-slump-and-spacex-volatility-weigh-on-u-s-markets","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/tech-sector-slump-and-spacex-volatility-weigh-on-u-s-markets\/63550\/","title":{"rendered":"Tech Sector Slump and SpaceX Volatility Weigh on U.S. Markets"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/tech-sector-slump-and-spacex-volatility-weigh-on-u-s-markets\/63550\/#Key_Takeaways\" >Key Takeaways<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/tech-sector-slump-and-spacex-volatility-weigh-on-u-s-markets\/63550\/#Tech_Sell-Off_Drags_Down_Major_Indices\" >Tech Sell-Off Drags Down Major Indices<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/tech-sector-slump-and-spacex-volatility-weigh-on-u-s-markets\/63550\/#SpaceX_Post-IPO_Rally_Unravels\" >SpaceX Post-IPO Rally Unravels<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/tech-sector-slump-and-spacex-volatility-weigh-on-u-s-markets\/63550\/#Alphabet_and_Meta_Navigate_New_Ventures\" >Alphabet and Meta Navigate New Ventures<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/tech-sector-slump-and-spacex-volatility-weigh-on-u-s-markets\/63550\/#Lucid_Restructuring_and_Global_Outages\" >Lucid Restructuring and Global Outages<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/tech-sector-slump-and-spacex-volatility-weigh-on-u-s-markets\/63550\/#International_Diplomacy_and_Energy_Accidents\" >International Diplomacy and Energy Accidents<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Key_Takeaways\"><\/span>Key Takeaways<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li><strong>U.S. markets extended their decline on Monday<\/strong>, with the <strong>Nasdaq 100 turning negative<\/strong> and falling <strong>1.00%<\/strong> as heavyweights like <strong>Alphabet<\/strong> and <strong>SpaceX<\/strong> faced significant selling pressure.<\/li>\n<li><strong>SpaceX (<a href=\"\/stock\/SPCX\">SPCX<\/a>) shares plummeted 10%<\/strong>, marking a third consecutive session of losses following a <strong>$60 billion<\/strong> all-stock acquisition of AI startup <strong>Cursor<\/strong> that sparked dilution concerns.<\/li>\n<li><strong>Lucid Group (<a href=\"\/stock\/LCID\">LCID<\/a>) announced an 18% workforce reduction<\/strong> and the immediate departure of its COO as part of a restructuring plan to save <strong>$158 million<\/strong> annually.<\/li>\n<li><strong>Alphabet (<a href=\"\/stock\/GOOGL\">GOOGL<\/a>) shares dropped 5%<\/strong> to a session low following reports of a <strong>$75 million<\/strong> investment in film studio <strong>A24<\/strong> and ongoing concerns over massive <strong>$180 billion<\/strong> capital expenditure projections.<\/li>\n<li><strong>Social media platform X suffered a global outage<\/strong>, with over <strong>35,000 users<\/strong> reporting access issues on Monday morning, coinciding with broader technical disruptions at Cloudflare.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Tech_Sell-Off_Drags_Down_Major_Indices\"><\/span>Tech Sell-Off Drags Down Major Indices<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The tech-heavy <strong>Nasdaq Composite<\/strong> and <strong>Nasdaq 100<\/strong> indices retreated into negative territory on Monday, June 22, 2026, as investor sentiment soured across the high-growth sector. The <strong>Nasdaq 100<\/strong> fell as much as <strong>1.00%<\/strong> by midday, reversing earlier gains from a holiday-shortened week. Market participants cited a combination of massive capital expenditure forecasts from &quot;Magnificent Seven&quot; members and a cooling IPO market as primary drivers for the downturn.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"SpaceX_Post-IPO_Rally_Unravels\"><\/span>SpaceX Post-IPO Rally Unravels<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>SpaceX (<a href=\"\/stock\/SPCX\">SPCX<\/a>)<\/strong> saw its shares extend a sharp decline, falling <strong>10%<\/strong> to approximately <strong>$168.50<\/strong>. This marks the third straight day of losses for the rocket manufacturer, which recently completed a record-breaking <strong>$75 billion<\/strong> IPO. Analysts pointed to the company&#39;s <strong>$60 billion<\/strong> acquisition of <strong>Cursor<\/strong> and a new <strong>$4.3 billion<\/strong> first-quarter loss as catalysts for the sell-off, which has erased over <strong>$600 billion<\/strong> in market value from its post-listing peak.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Alphabet_and_Meta_Navigate_New_Ventures\"><\/span>Alphabet and Meta Navigate New Ventures<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>Alphabet (<a href=\"\/stock\/GOOGL\">GOOGL<\/a>)<\/strong> shares hit a session low of <strong>5%<\/strong> down amid reports that the company is investing <strong>$75 million<\/strong> in independent film studio <strong>A24<\/strong>. The partnership with <strong>Google DeepMind<\/strong> aims to develop AI-driven tools for filmmaking, though investors remain wary of the company&#39;s projected <strong>$180 billion<\/strong> in 2026 capital expenditures. Meanwhile, <strong>Meta Platforms (<a href=\"\/stock\/META\">META<\/a>)<\/strong> announced it is expanding <strong>Instagram for TV<\/strong> to <strong>Samsung (<a href=\"\/stock\/SSNLF\">SSNLF<\/a>)<\/strong> devices and testing new episodic series formats to boost engagement on larger screens.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Lucid_Restructuring_and_Global_Outages\"><\/span>Lucid Restructuring and Global Outages<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In the EV sector, <strong>Lucid Group (<a href=\"\/stock\/LCID\">LCID<\/a>)<\/strong> announced it would cut <strong>18%<\/strong> of its U.S. workforce, affecting roughly <strong>1,500 employees<\/strong>. The company also eliminated the role of Chief Operating Officer, leading to the immediate exit of <strong>Marc Winterhoff<\/strong>. Simultaneously, Elon Musk&#39;s social media platform <strong>X<\/strong> faced significant technical hurdles, with <strong>Downdetector<\/strong> logging a peak of over <strong>35,000<\/strong> reports of outages globally, though services began to stabilize by the afternoon.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"International_Diplomacy_and_Energy_Accidents\"><\/span>International Diplomacy and Energy Accidents<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>On the geopolitical front, the <strong>Pakistan<\/strong> government confirmed that <strong>Iran&#39;s President<\/strong> will visit on June 23 to discuss diplomatic engagements following a landmark <strong>U.S.-Iran peace deal<\/strong>. In energy markets, <strong>Qatar&#39;s<\/strong> Minister of State for Energy Affairs confirmed that an explosion at the <strong>Ras Laffan<\/strong> gas facility was a &quot;technical accident&quot; that killed <strong>13 people<\/strong> during a restart operation. Despite the tragedy, officials stated that the incident would not impact global LNG export capabilities.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways U.S. markets extended their decline on Monday, with the Nasdaq 100 turning negative and falling 1.00% as heavyweights [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50383,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center 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