SpaceX IPO Hits $2T, Raising Market Concerns

SpaceX went public Friday at a $1.75 trillion valuation, closing above $2 trillion in the largest IPO ever. Anthropic and OpenAI could follow within 3 to 12 months, potentially pulling over $200 billion of liquidity from public markets. The S&P 500's P/E ratio near 32x and Shiller CAPE near 42 signal stretched valuations.