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Explains how SpaceX's fast-track inclusion in the Nasdaq-100 affects index funds and whether it threatens their stability, featuring insights from index fund pioneer Burton Malkiel.
The article details how regulatory changes by Nasdaq and FTSE Russell in 2026 paved the way for SpaceX, OpenAI, and Anthropic to enter index funds, embedding their high valuations in retirement accounts and making a market correction politically difficult, resulting in a slow bleed rather than a crash.