SpaceX shares have shed more than $1 trillion in market value since peaking at $225, pushing Elon Musk off the trillionaire threshold and highlighting a broader technology selloff that rippled from Seoul to New York. The stock closed yesterday at $135.27, down 0.6 percent from the prior session and barely above its $135 IPO price, after a 0.37 percent overnight bounce failed to arrest the slide. Bloomberg's billionaire index now values Musk at $856 billion.
Asian markets led the retreat after the Bank of Korea raised interest rates and signaled further tightening to combat persistent inflation. The tech-heavy Kospi plunged 6.37 percent, extending its monthly loss to 21.84 percent and deepening correction territory. Japan's Nikkei 225 fell 2.79 percent and China's CSI 300 dropped 1.85 percent, while India's Nifty 50 edged up 0.15 percent.
European benchmarks followed, with the Stoxx 600 down 0.26 percent and the FTSE 100 off 0.37 percent before lunch. S&P 500 futures were flat after the index rose 0.38 percent Tuesday, while Nasdaq 100 futures slipped 0.19 percent ahead of the New York open.
Brent crude traded at $84 a barrel, down from an $86 high the previous day but well above the pre-conflict level near $60. The Strait of Hormuz has now endured six months of total or partial closure, yet oil remains far below the $114 peak reached after hostilities began.
Separately, a UK filing disclosed that Disney's cruise division generated more than $3 billion in revenue last year for the first time, driven by a sixth ship added during a $12 billion fleet expansion. Chief Financial Officer Hugh Johnston has repeatedly declined to break out the segment on earnings calls.
Wisconsin officials are also seeking a criminal investigation into Musk over alleged election bribery, adding legal risk to the financial pressure. Bitcoin hovered at $64,000.