United States tech stocks slide as SpaceX IPO nears
PUBLISHED Jun 11, 2026, 8:56 AM ET
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U.S. technology shares fell sharply on Wednesday, June 10, amid heightened volatility ahead of SpaceX’s planned initial public offering on Nasdaq. The Nasdaq Composite dropped 2 percent and the S&P 500 declined 1.6 percent, as investors reassessed lofty valuations in artificial intelligence–linked companies. SpaceX is expected to raise about $86 billion when its IPO opens for trading on Friday, June 12. The downturn unfolded against a backdrop of U.S. inflation hitting 4.2 percent in May, a three-year high, partly driven by rising fuel costs and Middle East tensions. Major tech and chipmakers led losses, while the VIX climbed above its historical average.
By Sarah Whitman | JQJO News
Timeline of Events
- May U.S. inflation hits 4.2 percent
- Recent months fuel prices climb globally
- Recent months Middle East tensions elevate risks
- Wednesday Nasdaq Composite declines by 2 percent
- Wednesday S&P 500 falls 1.6 percent
- Wednesday VIX rises to 22.20 reading
- Wednesday Super Micro announces $7 billion sale
- Friday SpaceX IPO scheduled on Nasdaq
News Intelligence
- The SpaceX IPO could shake up your investments. If you own tech stocks, you might see some volatility. Keep an eye on your portfolio. Consider talking to a financial advisor if you're unsure.
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