US Tech Stocks Drag Down Nasdaq, Google Falls Over 6%, Amazon Falls Over 4.5%

BlockBeats News, June 22nd, according to Bitget market data, the Nasdaq index opened higher and then fell, with the decline expanding to 1.09%. The collective pullback of tech giants was a major drag: Alphabet (Google) plummeted over 6%, Amazon fell over 4.5%, Meta dropped nearly 3%, and the market may be seeing profit-taking after the early strength in the AI theme.

Earlier strong non-farm payroll data boosted market expectations of the Fed maintaining high interest rates or further rate hikes. This Thursday, PCE inflation data will be released, and investors are cautious. The U.S. dollar exchange rate continues to rise, suppressing high-valuation growth stocks, especially in the tech sector. The Dow held relatively steady, and the overall market remains in a high-level consolidation.

At the same time, U.S. aerospace stocks saw sharp declines, with Planet Labs falling over 4% at one point, Satellogic down 6.22%, Redwire down 8.24%, SpaceX down 8.92%, Rocket Lab down 7.10%, and Intuitive Machines' stock price falling 5.82%.