SpaceX's $400B loss in a day
SpaceX company suffered significant losses after recording a market loss of $400 billion in a single session, following its $86 billion initial public offering. Expectations of rising US bond yields and increasing interest rates prompted its shares to decline by 16.4%, leading to a decrease in its market value to $2.03 trillion, down from a peak that approached $3 trillion. This decline reflects the impact of rising financing costs and decreased demand, despite the company's ongoing expansion into artificial intelligence.
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