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SpaceX shed more than $400 billion in market value after shares in Elon Musk's AI and rockets group tumbled more than 16%, snapping a rally that had followed the company's market debut.
The catalyst was a fresh rise in US bond yields, which repriced risk assets broadly and landed hardest on the newly listed name.
A Debut Derailed The magnitude of the reversal puts SpaceX among the more dramatic single-session dollar-value destructions for a newly public company.
A decline exceeding 16% from a debut-rally high is the kind of move that reflects institutional distribution, not retail noise — though the driver here is attributed to the macro backdrop rather than any company-specific development.
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