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%.