Why Rocket Lab, Planet Labs, and AST SpaceMobile Stocks All Dropped on Monday
Tariffs are just the start of the answer to why these three space stocks are going down today.
Investors sold off tech stocks hard on Monday, with the Nasdaq down 1.5% through 11:30 a.m. ET, versus drops of only 0.6% for the broader S&P 500, and actually a tiny gain for the Dow Jones Industrial Average.
Volatile space stocks are getting hit particularly hard, with Rocket Lab (NASDAQ: RKLB) shares down 4.5%, and both Planet Labs (NYSE: PL) and AST SpaceMobile (NASDAQ: ASTS) stocks off 4%. And why?
The consensus in the media seems to be that this sell-off can be blamed almost entirely on "a slew of tariffs previously announced by the Trump administration [that] will go into effect on Wednesday," as CNBC puts it, and on worries over additional reciprocal tariffs that the president has yet to specify, which could also be announced Wednesday.
