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SpaceX Leads Global Tech Stocks Selloff | Daybreak Europe 6/23/2026

Watch on YouTube ↗  |  June 23, 2026 at 06:48  |  47:00  |  Bloomberg Markets
Speakers
Neil Wilson — UK Investor Strategist, Saxo
Ven — MLIV Strategist
Sam Fazeli — Senior Pharmaceutical Analyst, Bloomberg Intelligence
Winnie Hsu — Bloomberg Reporter (Asia Markets)
Charles — Capital Markets Editor, Bloomberg
Abeer Abu Omar — Reporter, Bloomberg London

Summary

A global tech selloff led by SpaceX triggers a broad market retreat as investors rotate out of high-flying names. The US issues a 60-day waiver allowing Iran to sell oil, steadying crude below $78, while US-Iran peace talks continue. In the UK, Andy Burnham is poised to become prime minister after Keir Starmer steps aside, introducing political uncertainty. Guests discuss SpaceX volatility, central bank tightening pressuring overvalued equities, UK gilt risks under a left-leaning chancellor, the long-term bull case for technology, and Eli Lilly's edge in obesity drugs.

  • Global tech stocks tumble, SpaceX falls for a third day erasing $600bn in market value.
  • US gives Iran 60-day oil sanction waiver; Brent crude steady below $78, Strait of Hormuz sees limited flows.
  • Andy Burnham set to become UK PM after Starmer resigns; EU postpones summit awaiting new leadership.
  • Neil Wilson flags technical factors behind SpaceX volatility: passive flows, debt offering, levered ETFs, short-dated options.
  • Ven warns that simultaneous rate hikes by Fed, ECB, BOE and BOJ will pressure overvalued S&P 500 and Nasdaq.
  • Ven sees further UK gilt selloff if a left-leaning reformist becomes chancellor under Burnham.
  • Neil Wilson stays bullish on technology as the cornerstone asset for the next 10-20 years.
  • Sam Fraselli touts Eli Lilly's superior weight-loss drug efficacy as a competitive moat.
Ideas
Neil Wilson UK Investor Strategist, Saxo 5:25
SpaceX volatility elevated, wait for earnings.
SpaceX shares are experiencing high volatility driven by technical factors: passive fund rebalancing, a rapid return to debt markets after an equity raise, heavy capital needs, and heavy activity in leveraged ETFs and very short-dated options. The real fundamental test will come with earnings in mid-August; until then momentum and volatility dominate, making it a stock to watch rather than trade directionally.
SPCX MED
Ven MLIV Strategist 7:49
CB tightening to hit overvalued equities.
All four major central banks (Fed, ECB, BOE, BOJ) are raising rates, pushing up the 10-year Treasury yield and the discount rate applied to equities. With the Nasdaq and S&P 500 already more than fully valued, the stage is set for a correction. Tightening policy will weigh heavily on US stocks.
SPY QQQ HIGH
Ven MLIV Strategist 9:51
Left-leaning UK chancellor hurts gilts.
If Andy Burnham appoints a left-leaning reformist chancellor, 30-year UK gilts will sell off sharply. 10- and 30-year gilts already trade at a significant discount, and that steep discount will widen further as political risks materialise, driving gilt yields higher.
UK 30-year gilt UK 10-Year Gilt MED
Neil Wilson UK Investor Strategist, Saxo 34:52
Tech remains long-term cornerstone asset.
Despite near-term pullbacks caused by extreme concentration and leverage to the AI trade, technology remains the cornerstone asset class for global stocks over a 10-20 year horizon. Long-term investors should stay bullish on the tech sector.
XLK MED
Sam Fazeli Senior Pharmaceutical Analyst, Bloomberg Intelligence 43:32
Lilly's superior efficacy gives edge.
Eli Lilly's weight-loss drugs, especially tirzepatide and its follow-on combinations, show superior efficacy by targeting multiple actives. This competitive edge, combined with M&A and a strong cash position, should help the company manage the patent cliff and sustain its dominance.
LLY MED
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This Bloomberg Markets video, published June 23, 2026, features Neil Wilson, Ven, Sam Fazeli discussing SPCX, SPY, QQQ, UK 30-year gilt, UK 10-Year Gilt, XLK, LLY. 5 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Neil Wilson, Ven, Sam Fazeli  · Tickers: SPCX, SPY, QQQ, UK 30-year gilt, UK 10-Year Gilt, XLK, LLY