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🚨PRECIOUS DROP : GOLD ( $XAU ) & SILVER ( $XAG ) WIPE OUT OVER $1.3 TRILLION IN MARKET CAP TODAY 💀
Gold plunged more than 3.5%, falling to around $4025 per ounce, its sharpest one-day drop since March and extending a four-day losing streak. Silver also remained under pressure, dropping to nearly $61.5 per ounce.
The selloff has erased more than $1.3 trillion in combined precious metals market value in just 24 hours, as rising inflation, higher bond yields, and expectations of further Fed tightening pushed investors away from non-yielding assets like gold and silver.
🚨 U.S. stocks just suffered another brutal selloff, wiping out more than $1 trillion in market value 😱
The S&P 500 tumbled 1.7%, the Nasdaq dropped 2%, and the Dow Jones plunged over 950 points, falling back below the 50,000 mark.
Markets reacted sharply after fresh inflation data showed consumer prices rising 4.2% year-over-year in May, the highest reading since April 2023. Growth and tech stocks took the biggest hit, with $NVDA falling 3.7%, $AMD losing 4.9%, and $TSLA sliding 3.8%.
Investor sentiment was also rattled by escalating tensions with Iran after President Trump signaled a tougher stance, pushing oil prices higher and adding pressure to risk assets.
Since its June 2 peak near 7,620, the S&P 500 has now erased roughly $3.3 trillion in market value and is moving closer to correction territory as traders navigate inflation concerns, geopolitical risks, and ongoing capital shifts surrounding the highly anticipated SpaceX IPO.
COLLECT has been trending higher in a strong staircase pattern, making higher highs and higher lows throughout the session. A breakout above the 0.0583 resistance zone could trigger another expansion move toward higher targets. As long as the 0.055 support area holds, buyers remain in control.
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BEAT has delivered a strong rally from the 3.36 region to above 6.30, but momentum is beginning to slow as price struggles to break through resistance. Unless bulls reclaim 6.40 with strong volume, the current structure favors a pullback toward the 25MA and previous support zones.
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GENIUS has rallied aggressively from the 0.39 region and is now approaching a major resistance area near the descending 99MA. Volume has increased sharply during the rally, but buyers are now testing a key supply zone where sellers previously stepped in. Unless bulls reclaim and hold above 0.555 with strong momentum, the current structure favors a retracement toward the 25MA and prior support levels.
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HMSTR has established a strong bullish structure after reclaiming key moving averages and accelerating into a clean uptrend. Despite being extended in the short term, the lack of aggressive selling pressure suggests bulls are still defending every pullback. Holding above the 0.000212 support region keeps the trend intact and opens the door for another leg higher.
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$2 TRILLION HAS BEEN WIPED OUT FROM THE US STOCK MARKET IN THE LAST 2 HOURS.
Two possible reasons behind the selloff.
THE FIRST REASON IS SPACEX ( $SPCX )
SpaceX lists on June 12 at a $1.77 trillion valuation, raising $75 billion in the largest IPO in US history.
SpaceX allocated 30% of shares to retail investors, far above the industry norm.
Many investors still did not receive full allocations. To buy more shares when trading begins, they are selling existing positions to raise cash.
SpaceX will enter the Nasdaq 100 just 15 trading days after listing, creating an estimated $22-$27 billion in forced buying from index funds.
To make room, existing Nasdaq 100 stocks will be trimmed.
MSCI has also adopted early inclusion rules, adding even more future demand for SpaceX shares.
Both retail and institutions are raising cash at the same time, creating selling pressure across the market.
The second reason is insider positioning ahead of major news.
When institutions sell aggressively across multiple asset classes at once, it can signal they are preparing for something the broader market has not yet priced in.
🚨 $800 BILLION wiped out from Gold ( $XAU ) and Silver ( $XAG ) in just 1 hour 😱
A brutal selloff slammed the precious metals market, triggering one of the fastest wealth destructions seen this year.
Gold tumbled sharply while silver suffered an even deeper collapse as traders rushed to exit positions. The move was fueled by a combination of rising interest rate expectations, heavy liquidation, and a broader risk-off sentiment across financial markets.
Analysts say the drop wasn't caused by a single event. Instead, it was a perfect storm of leveraged positions being unwound, thin liquidity, and growing fears that higher rates could remain in place longer than expected. Once selling started, it accelerated as stop losses and margin calls kicked in.
The crash comes after an extraordinary rally in precious metals that had pushed both gold and silver to historically stretched levels, leaving the market vulnerable to a violent correction.