Big Tech ETF plunges as Apple slides; SpaceX $25B debt raises bubble alarms
Shares of the Big Tech ETF dropped sharply as Apple slid, pulling Google shares down in tandem. Separately, SpaceX raised $25 billion in debt, prompting Allianz CIO Ludovic Subran to warn that markets are entering bubble territory.
1. Big Tech ETF Slide Pressures Google
The Big Tech ETF experienced a sharp decline today after Apple shares tumbled, reflecting broader tech-sector volatility. This pullback in the ETF exerted downward pressure on Google parent Alphabet shares as investors rotated away from growth names.
2. SpaceX's $25B Debt Sale Sparks Bubble Concerns
SpaceX completed a $25 billion bond issuance, with over $12 billion linked to its Twitter acquisition debt and now carrying an investment-grade rating. Allianz CIO Ludovic Subran cautioned that this level of issuance amid ongoing cash burn at SpaceX AI ventures signals a shift from a stretched boom toward bubble territory.
