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Tech selloff fuels caution as investors eye Fed and inflation data
US markets pulled back amid tech-led selling, while SpaceX achieved a record private valuation ahead of a potential future listing.
US stock indices retreated from record levels as concerns around a potential artificial intelligence valuation bubble weighed on technology stocks. The S&P 500 and Dow edged lower, while investors awaited key signals from the Federal Open Market Committee and upcoming consumer inflation data. Separately, SpaceX was valued at a record 800 billion dollars in a secondary share sale, underscoring strong private market appetite ahead of its expected IPO in 2026 despite broader public market volatility.