By Joy Wiltermuth and Isabel Wang
Tech stocks fall sharply Tuesday, but investors aren't bailing on the rest of the S&P 500
Tech stocks fell Tuesday, deepening a rout that started in early June for highflying areas of the equity market.
Technology stocks tumbled on Tuesday, extending a swoon that began in early June, as investors anxiously await the historic SpaceX IPO later this week and retreat from hot parts of the artificial-intelligence playbook.
The concern is two-fold: For one, SpaceX (SPCX) is currently planning to supply the public with up to $86 billion worth of its shares; and two, there's the worry that investors will have to raise cash to buy up that supply by trimming stakes in their recent winners.
