A sharp global selloff in technology stocks pushed Nasdaq 100 futures down 2.8%, while S&P 500 and Dow futures also fell. SpaceX extended its decline for a fourth session, including a $400 billion one-day market-value wipeout, as AI-linked chip and hardware names such as Nvidia, Tesla and Intel fell more than 5%. South Korea’s KOSPI slid 10%, with Samsung and SK Hynix down more than 12%. The moves were driven by fears that Iran war-related disruption around the Strait of Hormuz could lift inflation and interest-rate expectations, weighing on high-valuation growth stocks.

纳斯达克100指数单日面临超1万亿美元市值蒸发，主因科技股集体下挫。SpaceX估值跌破2万亿美元，芯片股如英特尔、AMD、美光重挫；“七巨头”中六家下跌，英伟达、特斯拉、苹果等合计或损失3450亿美元市值。市场担忧AI资本开支回报不明朗，叠加美联储加息预期从25bps升至50bps，压制高估值成长股。

SpaceX shares fell 5% to $147 in premarket trading on June 23, slipping below their first-day opening price of $150. The move wiped about $40 billion in market value in a single session and more than $60 billion over three days. Over the same period, Nasdaq 100 futures dropped 2.6% and S&P 500 futures fell 1.4% after reports that South Korea’s SK Hynix and Samsung Electronics paused AI chip capacity expansion. SpaceX is not publicly listed, but its secondary-market trading has been viewed as a barometer of cooling sentiment across AI-related stocks.

New Federal Reserve chair Kevin Warsh struck a more hawkish tone in his first policy statement, prompting markets to price in three 25-basis-point rate hikes this year that could take the policy rate to 4.25–4.5%. Tech stocks led the selloff, with SpaceX down 16.43% in a single session, erasing $400 billion in market capitalization. Oil prices slipped to $77 per barrel even as tensions over passage through the Strait of Hormuz persisted, and some institutions forecast a further decline toward the $50 to $60 range.

On June 23, South Korea’s benchmark KOSPI index plunged 10% and triggered a circuit breaker after reports that Samsung Electronics and SK hynix may slow the expansion of AI memory chip capacity. The shock rippled through global tech shares, with Nasdaq 100 futures down more than 2% and S&P 500 futures off over 1%, while Dow Jones futures slipped about 0.4%. The MSCI Asia Pacific Information Technology Index fell nearly 5% and India’s Nifty IT index dropped as much as 2.34%. Softer oil prices and easing Middle East tensions failed to offset renewed worries about high tech valuations tied to AI spending.

On June 23, spot silver fell 2.4% to $64.01 per ounce, extending a near-50% pullback from its previous peak. Expectations of a U.S. Federal Reserve rate hike and easing geopolitical tensions reduced demand for safe-haven assets, while the dollar index moved above 101, adding pressure to dollar-priced metals. Hindustan Zinc, India’s only pure listed silver play, dropped 5% as silver contributes 45–50% of its EBIT, leaving the stock highly sensitive to price moves.

Shares of India’s Hindustan Zinc fell 5% in a single session, pressured by a sharp decline in global silver prices. The company is a major global zinc producer, and silver is a high-value by-product generated during its zinc smelting process. The drop in silver prices weighed on expectations for its blended metals revenue and profitability.

SpaceX shares fell nearly 30% over three days after its listing, including a 16.4% drop on Monday. The company said it plans to issue $20bn of investment-grade bonds to support its AI strategy, stoking concerns over a potential bubble in AI capital spending. The Nasdaq dropped 1.3% on Monday, while South Korea’s Kospi triggered a circuit breaker and Japan’s Nikkei fell 3.6%. Tesla, a core Musk holding and an AI-linked name, also came under pressure.