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WSJ Minute Briefing

SpaceX Shares Dip Below IPO Price

6/23/20262 min

Nasdaq falls by 1.5% amid AI jitters. Plus: The Justice Department is charging about 450 defendants for $6.5 billion in alleged healthcare fraud. And Oracle cut around 21,000 jobs last year. Alex Ossola hosts.

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An artificial-intelligence tool assisted in the making of this episode by creating summaries that were based on Wall Street Journal reporting and reviewed and adapted by an editor.

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First 90 seconds

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  7. Alex Ossola· Host0:29

    [upbeat music] Here's your midday brief for Tuesday, June 23rd. I'm Alex Osoleff for The Wall Street Journal. US stocks opened sharply lower this morning as the tech sell-off deepened. The AI rally has gone in reverse in recent days, prompted by jitters about AI companies' heavy spending and looming rate increases by the Federal Reserve. By late morning, the tech-heavy NASDAQ was down about one and a half percent, and several times, SpaceX shares fell below $150, where they opened on their first day of trading. We're exclusively reporting that the Justice Department is bringing charges against around 450 defendants for alleged healthcare fraud totaling over six and a half billion dollars. Federal officials say the operation spanned 41 states and includes a record number of Medicaid fraud defendants. In one case in Los Angeles, prosecutors allege that a business owner billed Medicare for dead beneficiaries using stolen information. Critics argue the administration's broader crackdown, what it calls a war on fraud,

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