Stocks Crash as Investors Assess Potential SpaceX IPO Impact

Stocks fell as investors weighed SpaceX's impending IPO, with Alphabet, Microsoft, Meta Platforms, and Oracle retreating ahead of the debut. The session contributed to broad weakness in the S&P 500, erasing more than $200 billion in combined market value from the four companies. Some traders suggested capital is rotating from AI leaders toward SpaceX, though no direct link has been confirmed.

Investors will watch SpaceX's market debut to gauge broader shifts in liquidity and positioning, seeking clues on risk appetite and sector leadership. A strong start could bolster AI-related equities; a weak one might intensify cautious trading across technology stocks.