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.