Chris Trottier on Nostr: I was right: after big time greed on the stock market, there’s a massive ...
I was right: after big time greed on the stock market, there’s a massive correction.
Yesterday was a dead cat bounce. So far today? S&P has fallen 2.08%, and NASDAQ Composite is down a staggering 3.37%.
We are now strongly back in fear territory. What’s the catalyst for all this?
First, lots of Americans got hired recently. That’s good for the economy but not good for mega-cap tech companies. More jobs mean more people have money which means debt—which they use to fund their operations—won’t be cheap.
The other factor is SpaceX, which is set to have their IPO this week. This adds a mega-cap with a 1.7T valuation to the market. One which institutional investors must buy because a lot of ETFs are passive. So to do this, they’re likely selling off Apple or Amazon in preparation for buying SpaceX.
The question is: how far will this fall further?
Published at
2026-06-09 16:53:54 UTCEvent JSON
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