US tech stocks fall, dragging down the Nasdaq; Google drops over 6%, Amazon falls over 4.5%

BlockBeats News, June 22, according to Bitget market data, the US Nasdaq index opened higher and closed lower, with losses widening to 1.09%. Leading tech giants collectively pulled back, which was the main drag: Alphabet (Google) plunged over 6%, Amazon fell more than 4.5%, Meta dropped nearly 3%. After the strong performance of the AI theme earlier, the market may be seeing profit-taking.

Previously, strong non-farm payroll data increased market expectations that the Federal Reserve will maintain high interest rates or further hike rates. This Thursday, PCE inflation data will be released, and investors are taking a wait-and-see attitude. The US dollar exchange rate continues to rise, suppressing high-valuation growth stocks, especially in the tech sector. The Dow Jones is relatively resilient, and the overall market remains in a high-level oscillation.

Meanwhile, US aerospace stocks fell sharply. Planet Labs once dropped more than 4%, Satellogic declined 6.22%, Redwire fell 8.24%, SpaceX dropped 8.92%, Rocket Lab fell 7.10%, and Intuitive Machines shares dropped 5.82%.