The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.

We use cookies to improve your experience and serve personalized ads.

By clicking Accept, you consent to our use of advertising cookies. See our Privacy Policy for details.

StocksMedium•23 June 2026•

1 min read

Nasdaq 100 Slumps as SpaceX Plunge and Tech Sell-off Weigh on Markets

Key Facts

1The Nasdaq 100 index closed 1.3% lower, weighed down by declines in mega-cap technology stocks.

2SpaceX shares fell 16% following a bond sale that unnerved investors.

3Alphabet, Microsoft, and Amazon saw sharp declines ranging from 3.2% to 5%.

Reflecting the technology sector's sensitivity to debt market dynamics, the Nasdaq 100 index closed 1.3% lower as mega-cap tech stocks faced significant selling pressure. SpaceX shares plunged 16% following a bond sale that unnerved investors, triggering a broader sector-wide retreat. Alphabet, Microsoft, and Amazon also saw sharp declines ranging between 3.2% and 5% according to analyst reports.

This downturn comes amid heightened volatility for tech giants, with MSFT closing at $367.34 and GOOGL at $349.68 (as of June 22, 2026) per market data. The weakness extended to peers as well, with META and AAPL finishing at $563.85 and $297.01 respectively, signaling a broader erosion of investor confidence in high-growth technology valuations compared to previous sessions.

Traders should watch support levels for AMZN, which closed at $232.79 (as of June 22, 2026), near its daily low of $232.25. With SPCX currently at $154.6, market focus shifts to technical levels in the absence of major economic catalysts over the next seven days, following the Federal Reserve's recent decision to maintain interest rates at 3.75%.