Space-exploration related stocks declined broadly in Tuesday pre-market trading, with SpaceX down more than 4%, Redwire Corp. and Virgin Galactic fell by about 8%, Rocket Lab USA, Inc. sliding more than 7%, and AST SpaceMobile, Inc. and Intuitive Machines down over 6%.

After three straight sessions of declines, SpaceX has lost more than $600 billion of market value; Monday alone erased about $400 billion, the second-largest single-day U.S. market-cap decline on record after NVIDIA's roughly $590 billion drop last year. SpaceX said it will issue investment-grade bonds, with the initial offering expected to raise at least $20 billion, a move market participants view as the start of large-scale financing for its AI ambitions.

In recent months Alphabet, Amazon, Meta Platforms and Oracle have raised hundreds of billions of dollars of debt across multiple credit markets.