🚨 Nearly $1 TRILLION wiped off US stocks in 40 minutes after Reuters reported a possible intervention by the US in the YEN market.
The S&P 500 was up 0.70% on the day and had added $540 billion to its market cap.
Then it crashed 1.20% in just 40 minutes, wiping out $920 billion after the Reuters report.
Yes carry trade is now unwinding in real time.
Hundreds of billions were borrowed in cheap yen and put into US stocks, and a stronger yen forces those positions to close.
BREAKING 🚨: SpaceX
$SPCX falls to its lowest price in history and has now plunged 49% from June's all-time high, a total market cap loss of almost $1.5 Trillion 📉 📉
On behalf of 1.4 billion Indians, I extend my warmest congratulations to President Trump and the people of the United States on the historic 250th anniversary of your Independence.
India and the United States share more than a strategic partnership. Our shared belief in democracy, rule of law and the limitless potential of our people make our friendship a force for global good.
May the next 250 years bring even greater prosperity, peace and progress for America and take the India-US partnership to new heights.
@POTUS@realDonaldTrump
The four year cycle strikes again.
Bitcoin just had a weekly close below the 200W moving average.
The first time it closed below the 200W moving average in 2022 was also in June.
Best wishes to the Leader of the Opposition in the Lok Sabha, Shri Rahul Gandhi Ji on his birthday. Praying for his good health and long life.
@RahulGandhi
SpaceX is redefining industries on Earth and aiming to create new ones beyond it.
On June 11, it successfully priced its $75B IPO.
Goldman Sachs is honored to have served as lead left bookrunner.
Today, @SpaceX (Nasdaq: SPCX) makes its public market debut with a $75Bn offering (pre-greenshoe) at $135 per share, marking the largest IPO in history.
Congratulations to the SpaceX team. We are honored to serve as joint lead bookrunner and sole stabilization agent.
$2 TRILLION HAS BEEN WIPED OUT FROM US STOCK MARKET IN LAST 2 HOURS.
Two possible reasons for this selloff.
THE FIRST REASON IS SPACEX.
SpaceX lists on June 12 at a $1.77 trillion valuation, raising $75 billion, the largest IPO in US history.
SpaceX allocated 30% of shares to retail investors, three times the industry norm.
Even then, most retail investors still did not get full allocation. To buy more SpaceX at open on Thursday, they are selling their existing positions today to raise cash.
And SpaceX does not enter the Nasdaq 100 on day one. It enters 15 trading days after listing, putting forced buying around early July.
Nasdaq changed its rules specifically for this IPO, cutting the waiting period from three months to 15 days.
When that happens, every QQQ fund must automatically buy SpaceX, an estimated $22 to $27 billion in forced mechanical buying. To make room, every existing Nasdaq 100 stock gets trimmed.
MSCI has also adopted early inclusion rules, adding trillions more in tracked assets that will be forced to buy SpaceX after listing.
Both retail and institutions are raising cash at the same time, retail to participate in the listing, institutions to prepare for the forced index buying in July.
That combined selling is what you are seeing right now.
The second reason is insider positioning ahead of major news.
When institutions sell this aggressively across every asset class at the same time, it often signals they know something the market does not yet.
नेपालको राष्ट्रिय स्वतन्त्र पार्टीका सभापति श्री रवि लामिछानेज्यूसँग भेट्न पाउँदा अत्यन्तै खुशी लागेको छ । एक साझा र समृद्ध भविष्यका लागि मिलेर काम गर्ने वहाँको चाहनालाई म स्वागत गर्दछु र त्यसमा पूर्ण रुपमा सहमत छु ।
हाम्रो छिमेकी पहिलो नीति अन्तर्गत नेपाल प्राथमिकतामा रहेको साझेदार हो र हामी दुई देशबीचको विशिष्ट एवम् बहुआयामिक सम्बन्धलाई थप उचाइमा पुऱ्याउन नयाँ सरकारसँग सहकार्य गर्न उत्सुक छौँ ।
@hamrorabi
Elon Musk is preparing for the largest IPO in human history
At a staggering $1.75 trillion valuation, SpaceX would be worth more than every American defense contractor combined, more than Coca-Cola, McDonald's, Disney, Nike, and Starbucks put together, and even more than the top 10 companies on the London Stock Exchange combined
The scale is almost difficult to comprehend
🇺🇸Jensen Huang is out there living his best life, dancing at the NVIDIA all-employee celebration event in Taipei, Taiwan
You'd never guess he's the CEO 😂