Tech stocks and crypto downturn, SpaceX acquires xAI

Tech Stocks and Crypto Sell-Off

Tech stocks and cryptocurrencies faced a significant sell-off on February 3, 2026, driven by rising interest rates and investor uncertainty. Major tech indices dropped over 3%, while Bitcoin fell 8%, highlighting a turbulent market environment as investors reassess their portfolios in light of economic pressures.

Elon Musk’s SpaceX Developments

Elon Musk’s SpaceX announced plans to expand its satellite internet service, Starlink, aiming to reach 100 million users by 2028. The company reported over 1 million active subscribers as of January 2026, marking a substantial increase in demand for high-speed internet in remote areas.