SpaceX shares have fallen more than 30% from their June 16 peak, wiping about $928 billion from the company’s market value and weighing on sentiment across technology stocks. The report names Palantir and Micron among the S&P 500’s biggest decliners on the session, while the Nasdaq 100 was set to shed more than $1 trillion in value. Although SpaceX is not publicly listed, the article frames an “IPO” context and says the valuation swing has intensified scrutiny of richly valued tech assets and concerns over the durability of AI capital spending.

Casey’s General Stores (CASY) reported fiscal 2026 Q4 results with EPS of $4.37, up 66.2% year over year, while net income reached $162.7 million and EBITDA totaled $350.3 million, both well above expectations. The quarter was supported by 5.5% growth in inside same-store sales and a 29.1% increase in fuel gross profit, alongside a 46.9¢ per gallon fuel margin. The company also lifted its fiscal 2027 EBITDA growth outlook to 8%–10% and announced a 14% dividend increase plus a new $1 billion share repurchase authorization. The update was positioned as a clear, fresh and sizeable positive catalyst for CASY shares.

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.

The Nasdaq 100 was poised to shed more than $1 trillion in market value in a single session as technology shares sold off broadly. SpaceX fell below $2 trillion in market capitalization, while chipmakers such as Intel, Advanced Micro Devices and Micron posted steep declines. Six of the “Magnificent Seven” were lower, with Nvidia, Tesla and Apple among those set to erase a combined $345 billion in value if losses hold. Investors also weighed uncertainty over returns on AI-related spending and rising expectations for a total of 50 basis points of Federal Reserve rate increases by December, up from 25 basis points two weeks earlier.

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.