Space Stocks Drop Amid China Rocket Milestone and Oil Price Spike
Shares of SpaceX (SPCX), AST SpaceMobile (ASTS), and Rocket Lab (RKLB) fell between 4% to 5%, as a reusable rocket milestone by China's Long March program raised concerns about competition. Rising oil prices due to Hormuz tensions also contributed to broader market risk-off sentiment, impacting the space sector.
Topics: china rocket milestone oil price spike reusable rockets space stocks