ATS (TSX:ATS) Stock May Be 19.8% Undervalued Amid Volatility and Earnings Estimate Cuts
June 23, 2026, 5:13 AM EDT. ATS (TSX:ATS) shares have fallen 16.5% over 30 days and 6.7% over one year amid high implied options volatility and a Zacks Rank #5 (Strong Sell) rating. Despite near-term weakness and downward earnings revisions, a fair value assessment suggests ATS is 19.8% undervalued at CA$39.50 versus a CA$49.28 fair value based on rising earnings power and expanding recurring revenue from services and digital solutions. The stock’s price-to-earnings (P/E) ratio is 54.1x, above industry and peer averages, indicating potential valuation risks. Investors should weigh long-term growth prospects against concerns like softer order bookings and elevated leverage. The mixed signals warrant careful evaluation before investment.
ATS (TSX:ATS) Stock Could Be 19.8% Underva…
Singapore Equities Show Gains but Offer Limited Diversification
June 23, 2026, 5:12 AM EDT.Singapore’s Straits Times Index has risen over 20% in 2025, drawing renewed interest from local investors. However, analysts caution that Singapore equities often share common sensitivities to local factors like interest rates and property markets, limiting the benefits of diversification. While the market’s strong performance is notable, investors are advised to critically assess the risks of concentrating investments in familiar assets despite their recent gains.
Don’t mistake the familiarity of Singapore…
US Stock Futures Dip Amid Rising Bond Yields and Oil Market Volatility
June 23, 2026, 5:11 AM EDT. US stock futures edged down about 0.2% as the 10-year Treasury yield neared 4.48%, pressuring rate-sensitive sectors like banks and real estate. Oil price swings, driven by Middle East tensions, added uncertainty about fuel and transportation costs impacting households. Investors are focusing on 66 resilient, low-risk stocks amid concerns over choppy energy markets and firm yields. Key earnings reports from FedEx, Carnival, Micron Technology, and Trip.com Group later this week will provide insights on shipping, travel, memory chip demand, and international bookings. The upcoming US Personal Consumption Expenditures (PCE) inflation report will further influence interest rate expectations. Market participants are advised to monitor companies with strong balance sheets and fundamentals to navigate the current volatility.
US Stock Market Today: S&P 500 Futures Edg…
Stocks Slip on Megacap Tech and Software Weakness; Oil Prices Volatile on Iran Tensions
June 23, 2026, 5:09 AM EDT. Stocks showed mixed performance Monday with the S&P 500 down 0.37% and Nasdaq 100 falling 0.19%, led by a more than 5% drop in Alphabet shares after Google DeepMind VP Jumper’s exit. Early gains driven by chipmakers and AI stocks faded amid software sector softness. Crude oil prices surged over 2% initially due to Iran’s threat to close the Strait of Hormuz following Israel-Hezbollah conflict but pared losses after progress in US-Iran talks and a temporary US license easing Iranian oil sales. Overseas markets rose, with Euro Stoxx 50 up 0.29%, Shanghai Composite 1.78%, and Japan’s Nikkei-225 hitting a record high. The British pound fell after Keir Starmer announced plans to resign as UK PM, raising fiscal policy concerns. Markets price in a 39% chance of a 25 basis point Fed rate hike in late July.
Stocks Mostly Lower on Weakness in Megacap…
ASX300 Daily Winners and Losers – June 26, 2023
June 23, 2026, 5:08 AM EDT.Temple & Webster Group Ltd (TPW) led gains on the ASX300, climbing 4.77%. Other notable winners included Universal Store Holdings Ltd (UNI) up 3.13%, and Ricegrowers Ltd (SGLLV) rising 3.11%. On the downside, Dateline Resources Ltd (DTR) fell sharply by 11.43%, followed by Iluka Resources Ltd (ILU) down 10.82%. High-liquidity stocks influenced rankings, excluding low-volume trades to reflect significant market moves. Investors should seek additional context beyond this automated daily summary, which provides a snapshot of stock volatility and price change without investment recommendations.
ASX Winners And Losers Of Today – 23-06-26
Duke Energy Cuts Proposed Rate Hike, Power Bills to Rise in North Carolina 2027
June 23, 2026, 5:07 AM EDT.Duke Energy Carolinas reduced its residential rate increase proposal to 11.6% from 18% after opposition from North Carolina’s attorney general and regulators. The rate hike still awaits approval from the North Carolina Utilities Commission, with new rates possibly taking effect January 1, 2027. The case involves performance-based regulation, a system allowing utilities to recover costs based on set targets. Rising electricity demand driven by data centers is a key factor, as these facilities could significantly increase load. The attorney general advocates for a lower return on equity, arguing the current request leads to excessive customer costs. Consumer and environmental groups support a reduced rate, pointing to Duke’s ability to fund projects without the higher profit margin sought.
Duke Energy Rate Increase Reduced, Power B…
Power Plate Meals Recalls Meatloaf Over Undeclared Soy Allergy Risk
June 23, 2026, 5:06 AM EDT. Power Plate Meals LLC recalled approximately 5,795 pounds of frozen meatloaf with garlic mashed potatoes after U.S. regulators found undeclared soy. The product, distributed in Minnesota, North Dakota, and South Dakota, contains soy-a major allergen not listed on the label. The recall affects items made from June 25, 2025, to June 10, 2026, with use-by dates through June 2027, raising concerns that consumers may still have the product in freezers. The USDA classified the recall as Class II, indicating moderate risk requiring product removal. No adverse allergic reactions have been reported. Consumers are advised to discard or return the product. Power Plate Meals and USDA hotlines are available for inquiries. This action underscores the critical importance of accurate allergen labeling in food safety.
Power Plate Meals Meatloaf Recalled for Un…
South Korea's KOSPI Falls Nearly 10% Amid Chip Sector Selloff After AI Rally
June 23, 2026, 5:05 AM EDT. The South Korean KOSPI index plunged 9.99% to 8,203.84 on June 23, 2026, marking its steepest drop in over three months. The selloff, led by major chipmakers Samsung Electronics and SK hynix, followed a record AI-driven rally and regulatory concerns over leveraged ETFs amplifying single-stock moves. Trading was halted after an 8% drop triggered a circuit breaker, the fourth time this year. Foreign and institutional investors sold 8.68 trillion won, while retail investors bought 8.58 trillion won, amid a record turnover of 59.9 trillion won. The government’s financial regulator admitted approving leveraged chip ETFs too quickly and is considering stabilization measures. The won weakened amid profit-taking by overseas investors. SK hynix recently surpassed Samsung Electronics in market value, fueled by demand for AI-specific memory chips.
AI-led rally in South Korea stalls at 10% …
American Airlines Shares Rise on Falling Fuel Prices Amid Safety Probe
June 23, 2026, 5:04 AM EDT. American Airlines shares rose 0.56% to $16.08 as jet-fuel prices dropped from $4.88 to $2.85 per gallon since April, potentially saving U.S. airlines over $40 billion annually in fuel costs. Despite this, a safety investigation sparked by a near miss involving American and Delta jets in Boston weighs on sentiment. Analysts highlight mixed impacts: Bank of America boosted American’s price target to $16, citing strong demand, while Deutsche Bank notes only partial fuel cost recovery through fare hikes. American reported record Q1 revenue of $13.9 billion but posted a $382 million net loss and $34.7 billion debt. CEO Robert Isom cites a K-shaped demand recovery, with solid corporate bookings balancing weaker segments. Delta and United remain competitive, with American focusing on operational resilience and margin gains from lower fuel costs.
American Airlines Shares Up on Fuel Price …
OpenAI Targets $100 Billion in ChatGPT Ad Revenue Ahead of Potential IPO
June 23, 2026, 5:03 AM EDT. OpenAI plans to expand ChatGPT advertising into Brazil, Mexico, and India as part of its pitch to investors ahead of a possible U.S. IPO, targeting $100 billion in ad revenue by 2030. Ads will appear below ChatGPT’s free answers and remain clearly separated to maintain user trust. Despite over 920 million weekly active users, OpenAI’s ad revenue forecast contrasts with industry estimates predicting less than $1 billion from AI chatbots in 2026. The company faces significant costs, with $34 billion spent in 2025, and potential challenges from user pushback and advertiser interest. OpenAI aims for a U.S. market listing within the next year, possibly as soon as September, with a valuation potentially reaching $1 trillion.
OpenAI pushes $100 billion ChatGPT ad push…
IBM Shares Rise Premarket on OpenAI Cybersecurity Deal and Quantum Computing Contracts
June 23, 2026, 5:02 AM EDT. IBM shares rose 3.22% in premarket trading to $260.34 following late Monday announcements of a cybersecurity partnership with OpenAI and new U.S. quantum computing contracts. IBM joined OpenAI’s Daybreak Cyber Partner Program, integrating AI tools to enhance enterprise security operations and launched a new application security service. This stands out amid a 2.25% drop in Nasdaq futures and broader tech sector weakness. The moves follow U.S. executive orders supporting quantum computing development and cyber defense. IBM’s gains contrast with declines in S&P 500 and Dow futures as investors weigh potential rate hikes and AI spending risks.
IBM gains premarket as OpenAI deal and qua…
Anthropic Secures Micron Partnership Ahead of IPO Amid Investor Uncertainty
June 23, 2026, 5:01 AM EDT. Anthropic, the AI startup, secured support from Micron Technology for memory and storage supplies ahead of its planned IPO, as well as a strategic investment. The partnership focuses on high-bandwidth memory (HBM), DRAM, and solid-state storage critical for training and deploying Claude, Anthropic’s AI model. Anthropic reported a $65 billion funding round valuing the company at $965 billion and annual run-rate revenues exceeding $47 billion. The company filed a confidential S-1 with the SEC but did not disclose share pricing or amounts. Despite the positive momentum, investors remain cautious due to undisclosed gross margins and high infrastructure costs, which could impact the IPO valuation or timing. The deal with Micron secures supply but economic risks remain amid competitive pressures from OpenAI, which has also filed confidentially for an IPO.
Anthropic gets a lift from Micron ahead of…
US Stock Futures Fall as Tech Sell-Off Overshadows US-Iran Deal Progress
June 23, 2026, 5:00 AM EDT.U.S. stock futures dropped sharply on Tuesday, with Nasdaq 100 futures falling 2.2%, S&P 500 down 1.3%, and Dow Jones futures sliding 0.7%. Losses were driven by a sell-off in South Korean memory chipmakers SK Hynix and Samsung Electronics, both down over 10%, undermining optimism about AI-driven growth in tech stocks. Despite reported progress in US-Iran talks and a temporary U.S. waiver allowing limited Iranian oil sales, investor caution remained high. Key upcoming events include FedEx and Cerebras Systems earnings reports, the latter releasing results since going public in May, along with Micron’s earnings and the Federal Reserve’s preferred inflation gauge, the Personal Consumption Expenditures (PCE) report, due Thursday.
Stock market today: Dow, S&P 500, Nasdaq f…
Sensex Correlates Strongly with FII Flows and Rupee Strength, Bank of Baroda Finds
June 23, 2026, 4:54 AM EDT. A Bank of Baroda report highlights a strong positive correlation between India’s Sensex stock index, Foreign Institutional Investor (FII) flows, and the Indian Rupee’s strength. The study covering fiscal years 2000 to 2026 found correlation coefficients of 0.7 between Sensex and FIIs and 0.6 between Sensex and the Rupee from April 2022 to March 2026, indicating synchronized movements. The report describes a spillover effect where past Sensex returns impact future market behavior and FII volatility. It also notes that shifts in Sensex returns can influence exchange rates, demonstrating interconnectedness between India’s equity markets, foreign capital, and currency movements.
Sensex moves in unison with rising FII flo…
South Korea's KOSPI Drops Nearly 10% on Regulator Warning Overleveraged ETFs
June 23, 2026, 4:53 AM EDT. South Korea’s KOSPI index plunged 9.99% Tuesday, marking its largest decline in over three months. The sharp fall followed warnings from regulators about overleveraged exchange-traded funds (ETFs), which amplified selling pressure. Overseas investors targeted chipmakers amid concerns that the recent sector rally was overextended. The regulator’s caution on leveraged ETFs, which use borrowed funds to amplify returns but increase risk, spooked the market and triggered heavy outflows, driving the steep sell-off in the benchmark index.
South Korea's KOSPI plunges nearly 10% aft…
Stock Market Futures Dip as Tech Selloff Continues
June 23, 2026, 4:52 AM EDT. Dow, S&P 500, and Nasdaq futures fell in premarket trading, continuing the tech sector selloff. Market sentiment remains cautious amid geopolitical concerns involving former President Trump and Iran’s activity in the Hormuz Strait. Key movers include SpaceX, Micron, Intel, and Super Micro. Investors are watching for broader market impacts of these developments.
Stock Market Today: Dow, S&P 500, Nasdaq S…
Apollo Caps Withdrawals at 5% Amid 17% Redemption Surge in Private Credit Fund
June 23, 2026, 4:51 AM EDT. Apollo Global Management is limiting withdrawals from its $26 billion Apollo Debt Solutions private credit fund to 5% after investor redemption requests jumped to nearly 17%, or $2.4 billion, in Q2 2026. The fund, which offers retail investors exposure to higher-yield private credit assets, experienced increased outflows particularly from offshore clients. This development underscores persistent liquidity challenges in semi-liquid private credit vehicles following similar withdrawal caps imposed by Blackstone and Partners Group. Industry experts warn that redemption pressures are stressing fund operational structures, revealing tensions in offering daily liquidity for fundamentally illiquid assets.
Apollo curbs withdrawals after exit reques…
Ameriprise Financial Increases Stake in Thungela Resources to 5.038%
June 23, 2026, 4:50 AM EDT.Ameriprise Financial, Inc. has increased its stake in South African coal producer Thungela Resources to 5.038% of issued ordinary shares. The notification, made on June 18, 2026, follows the crossing of the regulatory threshold on June 17, 2026. This disclosure complies with the Companies Act and the JSE Listings Requirements, ensuring transparency for shareholders and the market. Thungela’s board confirmed the accuracy of the information and has reported the change to the Takeover Regulation Panel. The development signals growing institutional interest in Thungela amid evolving energy market conditions.
REG – Thungela Resources – TR-1: Notificat…
CME Group CEO Terry Duffy Criticizes Perpetual Futures
June 23, 2026, 4:48 AM EDT.CME Group CEO Terry Duffy expressed concerns over the launch of perpetual futures, a type of contract that allows for continuous trading without expiration. He warned that investors unfamiliar with these complex products risk being forced out of contracts unfairly. Duffy emphasized the importance of understanding product risks before trading, signaling CME’s cautious stance amid growing competition in the derivatives market.
💬 Money Quote: CME Cries Foul on Perpetual…
Manulife Financial Stock Price Targets Adjusted Amid Analyst Ratings
June 23, 2026, 4:47 AM EDT. Manulife Financial (TSX:MFC) sees analyst price targets refined within a narrow CA$54 to CA$58 range, maintaining a central fair value of CA$55.38. Analysts from TD Securities, Scotiabank, and Evercore ISI hold mostly stable ratings-Buy, Outperform, and In Line respectively-while slightly adjusting targets by about CA$1. These tweaks reflect updated assumptions rather than major shifts in outlook. The clustering signals restrained optimism, potentially limiting upward momentum. Key financial metrics like revenue growth, net profit margin, and price-to-earnings multiple remain largely unchanged. Investors should monitor evolving narratives linking business developments to earnings and valuation forecasts to gauge potential shifts in Manulife’s investment profile.
Manulife Financial (TSX:MFC) Stock Draws F…
Equinor Stock Up 31% YTD: Valuation and Growth Prospects Evaluated
June 23, 2026, 4:46 AM EDT. Equinor shares climbed 31% year to date, closing at NOK 316.40, despite recent volatility with a 2.9% drop last week and 12.1% decline over the past month. The Norwegian energy firm’s long-term gains are notable: 33.3% over three years and 159% over five. A Discounted Cash Flow (DCF) analysis estimates an intrinsic value of NOK 480.18 per share, suggesting the stock trades at a 34.1% discount, implying undervaluation. Equinor reported $3.58 billion free cash flow in the last 12 months, forecasted to rise to $5 billion by 2030. The company’s low price-to-earnings (P/E) ratio reflects market caution amid evolving energy sector dynamics. Investors weigh strong historical returns against sector risks and long-term capital plans, keeping Equinor under close scrutiny for value potential.
Equinor (OB:EQNR) Stock After 31% YTD Gain…
Australian Shares Dip for Fourth Day as Miners and Tech Stocks Weigh
June 23, 2026, 4:45 AM EDT. Australian shares fell for the fourth consecutive session, with the S&P/ASX 200 index declining 0.3% to 8,787, driven mainly by drops in mining and technology stocks. The mining sub-index slid 1.5%, hitting its lowest since June 12, pressured by falling iron ore prices amid expectations of increased shipments and weaker steel demand. Major miners BHP Group and Fortescue lost 0.7% and 1.7%, respectively. Gold stocks also dropped nearly 3%, affected by a stronger U.S. dollar amid anticipated Federal Reserve rate hikes. Technology stocks fell 4%, led by a 4% drop in Wisetech Global. Meanwhile, financial stocks rose 0.6% ahead of key inflation and jobs data due this week, key to assessing future Reserve Bank of Australia monetary policy moves.
Australian shares fall for fourth day as m…
Nasdaq Futures Drop Over 2% Amid Global Tech Selloff
June 23, 2026, 4:44 AM EDT. Nasdaq futures fell more than 2% in early European trading as a worldwide selloff in technology stocks intensified. The broad decline marks growing investor caution in the tech sector, which has been volatile amid shifting market conditions. The technology pullback dragged futures lower, signaling potential pressure for the broader equity markets ahead.
Stock Futures Slide as Technology Selloff …
Stocks Fluctuate After Wall Street Sell-Off, Crude Oil Remains Lower Amid Peace Talks
June 23, 2026, 4:34 AM EDT.Asian stocks fell sharply, led by a 10 percent plunge in South Korea’s Kospi following tech sector losses, with chip giants SK hynix and Samsung tumbling more than 12 percent each. Tokyo’s Nikkei dropped 3.6 percent, impacted by declines in SoftBank and Tokyo Electron. The sell-off resumes after Wall Street’s Nasdaq slid over 1 percent, pressured by declines in Amazon, Nvidia, and Microsoft. SpaceX shares plummeted 16 percent after disclosing plans for a bond offering. Meanwhile, oil prices extended losses on optimism from peace talks between Washington and Tehran. Market concerns persist over high valuations in AI-driven tech stocks, including Nvidia, now valued at over $5 trillion, raising questions about the sustainability of recent gains.
Stocks fluctuate after Wall St sell-off, c…
SpaceX's $600 Billion Stock Drop Wipes Out Nearly Half of Bitcoin's Market Cap
June 23, 2026, 4:33 AM EDT. SpaceX’s stock plunged over $600 billion in market value across three days, erasing nearly half of bitcoin’s $1.3 trillion market cap. Bitcoin fell less than 1% during this period, holding close to $63,600. The stock’s 23% three-day decline followed SpaceX’s announcement of its first bond sale, targeting at least $20 billion to finance an AI expansion after acquiring Elon Musk’s xAI. The company’s choice to borrow debt instead of issuing new shares aimed to avoid diluting current investors. SpaceX shares, trading on a thin float with limited available stock, saw amplified price moves, dropping 16% on Monday to a low of $154.60 and continuing losses into Tuesday.
BTC analysis: SpaceX’s $600 billion plunge…
ASX 200 Afternoon Report: Energy and Tech Stocks Slide, Financials Gain on Tax Changes
June 23, 2026, 4:32 AM EDT. The ASX 200 saw mixed action on June 23, 2026, with energy stocks dropping as West Texas Intermediate crude oil slipped below $74, testing its 200-day moving average near $73.69. In contrast, the financial sector edged higher, poised for its best daily close since before the Federal Budget, lifted by a revised government tax package boosting capital gains tax concessions for small businesses. The materials sector felt pressure from a stronger US dollar and softer commodity prices, including gold falling 1.64% to $4122 and iron ore easing to a four-month low of $97.65 amid increased supply expectations from Guinea’s Simandou project. The technology sector weakened further, with SiteMinder, DroneShield, and WiseTech Global sliding over 3.6%, the latter weighed down by an AFP investigation into its founder.
ASX 200 afternoon report: 23 June 2026
Sensex drops 550 points as Nifty tests 23,900 amid global tech selloff and Fed rate hike fears
June 23, 2026, 4:31 AM EDT. Indian stock markets fell sharply on Tuesday, with the Sensex dropping over 550 points and the Nifty50 testing the 23,900 level, erasing nearly Rs 4.57 lakh crore in market value. Weak global cues, including a 10% slump in South Korea’s Kospi index driven by heavy losses in semiconductor stocks, weighed heavily. Concerns over a probable U.S. Federal Reserve interest rate hike in December, now seen as 88% likely, added to selling pressure. Indian IT stocks, including Infosys and TCS, declined more than 3% following lowered revenue guidance from Accenture, sparking fears of slowing tech spending globally. Higher oil prices amid Middle East tensions further fueled inflation worries impacting market sentiment.
Why is market falling today? Sensex tanks …
Stock Futures Slide on Tech Sell-Off; Dow, S&P 500, Nasdaq Set to Open Lower
June 23, 2026, 4:30 AM EDT. Stock futures dropped on Tuesday as investors sold off technology shares following a sharp decline in the previous session. Shares of major tech companies like Alphabet were pressured after a Nobel Prize-winning scientist left the firm for artificial intelligence work elsewhere. Key market indexes including the Dow, S&P 500, and Nasdaq were set to open lower. Concerns around geopolitical tensions in the Iran Hormuz region, alongside market reactions to corporate developments at SpaceX, Micron, Intel, and Super Micro, also weighed on sentiment. The sell-off reflects cautious investor positioning amid a volatile tech sector and broader market uncertainties.
Stock Market Today: Dow, S&P 500, Nasdaq S…
China Resources New Energy Holdings to Raise $3.6 Billion in China's Largest IPO in Four Years
June 23, 2026, 4:29 AM EDT. China Resources New Energy Holdings (CRNEH) plans to raise $3.6 billion in an initial public offering (IPO) on the Shenzhen Stock Exchange, marking the biggest Chinese IPO in four years. The renewable energy company has drawn strong interest from retail investors ahead of its market debut. This fundraising move highlights growing investor appetite for green energy firms in China, reflecting the country’s ongoing shift towards sustainable power sources and its ambitious environmental targets. CRNEH’s IPO is poised to boost capital for expanding clean energy projects, underlining the strategic importance of such companies in China’s energy transition.
Renewable energy group to raise $3.6bn in …
First Business Financial Services (FBIZ) Sees Divergent Analyst Price Targets on Earnings Outlook
June 23, 2026, 4:18 AM EDT. First Business Financial Services’ average fair value estimate holds steady at $65.60 despite diverging analyst price targets reflecting mixed earnings visibility. Keefe Bruyette raised its target by $1, showing confidence in the company’s execution and earnings potential. Conversely, Raymond James cut its target by $4, signaling caution over near-term results. The split underlines differing views on growth prospects and execution risk among analysts. Revenue growth and profit margin assumptions remain stable, with minor adjustments to valuation metrics. Investors are advised to track evolving narratives and risks impacting FBIZ stock’s outlook on NasdaqGS.
First Business Financial Services (FBIZ) S…
Ramsdens shares rise 28% after $260 million takeover bid by FirstCash
June 23, 2026, 4:17 AM EDT. Shares in UK pawnbroker Ramsdens Holdings jumped 28% to 580 pence following a recommended £206 million (about $260 million) cash takeover offer from U.S. group FirstCash, which operates over 3,300 pawnbroking stores across the US, Latin America, and the UK. Ramsdens shareholders will receive 609 pence per share, including a 33% premium on the pre-offer share price. FirstCash entered the UK market last year with H&T and says Ramsdens complements its footprint by expanding its publicly traded pawn platform. The deal, advised by Cavendish, is expected to complete by H2 2026 via a court-approved scheme. Ramsdens has 174 stores and earnings tied closely to gold prices, which have recently peaked above $5,500 an ounce.
Ramsdens shares surge 28% as US pawnbroker…
Fuji Co. Refines Capital Cost and Share Price Management Strategy
June 23, 2026, 4:15 AM EDT. Fuji Co., Ltd. (JP:8278) has updated its management strategy focusing on capital cost and share price. The company reassessed its ongoing initiatives aimed at enhancing shareholder value and financial efficiency. This move reflects Fuji’s commitment to optimizing its capital structure and improving market performance. The strategy adjustment underscores the firm’s proactive approach to balancing investment and shareholder returns in a competitive market environment.
Fuji Refines Capital Cost- and Share Price…
SpaceX Stock Plunge Drags Down Scottish Mortgage and U.S. Tech Shares on June 23, 2026
June 23, 2026, 4:14 AM EDT. SpaceX shares plunged 16.4% to $154.6, reversing earlier post-IPO gains. The drop weighed heavily on Scottish Mortgage Investment Trust, which holds 17.9% of SpaceX as its largest stake, dragging its portfolio sharply lower. Other FTSE-listed tech trusts like Polar Capital Technology Trust and Baillie Gifford US Growth Trust also declined around 3.1%. The SpaceX setback contributed to a broader sell-off in U.S. tech stocks, pushing the Nasdaq Composite down 1.3%. Major tech firms including Alphabet, Amazon, Microsoft, and Meta Platforms saw shares fall amid the broader market reaction. This shift comes soon after initial optimism following SpaceX’s $1.3 trillion initial public offering, signaling renewed investor caution in the tech sector.
US Stock Market Today: Live Updates 23.06.…
SpaceX Stock Decline Hurts Scottish Mortgage and FTSE Tech Trusts
June 23, 2026, 4:01 AM EDT. Scottish Mortgage Investment Trust and other FTSE-listed tech investment trusts saw sharp losses following a 16.4% drop in SpaceX shares to $154.6. SpaceX, which had surged post its $1.3 trillion IPO, experienced a steep reversal, pulling Scottish Mortgage’s portfolio down since its 17.9% holding represents its largest stake. Other investors like Polar Capital Technology Trust and Baillie Gifford US Growth Trust also fell 3.1%. The downturn in SpaceX contributed to a wider sell-off in U.S. tech stocks, with the Nasdaq Composite falling 1.3%, dragging down giants such as Alphabet, Amazon, Microsoft, and Meta Platforms. This decline marks a shift after initial trading optimism following SpaceX’s IPO.
