SpaceX shares dip below debut price, erasing $600bn in value before recovering 2.4 percent amid tech market turbulence.

SpaceX shares fell below its market debut price of $150 per share, wiping out $600bn in market value amid a broader tech sell-off rocking markets before jumping 2.4 percent.

The dip in early trading on Tuesday follows a 16 percent slump on Monday that erased $400bn in market value for the Elon Musk-led aerospace company. Shares are still 10 percent above the $135 per share initial public offering.

SpaceX saw record-breaking gains after its IPO debuted on June 12, catapulting CEO Elon Musk into becoming the world’s first trillionaire. The…