Why Space Stocks Crashed to Earth Today

On yet another miserable day for stock markets, shares of rocket stocks are braking hard. As of 1:15 p.m. ET, small rocket-makers Rocket Lab USA (NASDAQ: RKLB) and Astra Space (NASDAQ: ASTR) are down 6.4% apiece, while Earth observation satellite company Planet Labs (NYSE: PL) shows a 6.5% loss. On a relatively brighter note, space tourism company Virgin Galactic Holdings (NYSE: SPCE), which has lost 38% of its stock market value since the new year began, is down "only" 3.4% today.