Image source, Getty ImagesImage caption, Traders work after a Federal Open Market Committee (FOMC) meeting on the floor of the New York Stock Exchange (NYSE) in New York, US, on Wednesday 17 JuneByFrancisco VelasquezBusiness reporterPublished23 June 2026 Financial markets received a sharp wake-up call on Tuesday following a sudden wave of selling in major technology shares, triggering widespread doubt over the sustainability of the AI boom. The tech-focused Nasdaq index fell about 3% by close of trade alongside international chipmakers, reigniting fears that dizzying market valuations have finally run out of momentum after a relentless three-month climb. At the same time, the newly public SpaceX has faced an incredibly choppy session. The aerospace giant's share price plunged below the $150 (£114) mark– its initial floatation price–before staging a modest recovery to close at $156 despite the broader market anxiety. For months, international stock exchanges have climbed on pure optimism. While this enthusiasm repeatedly pushed indices to unprecedented highs, the sustained 90-day rally left stock prices looking incredibly inflated.
Published: June 23, 2026 5:34 pm
Source: BBC — Read original