Plot Twist: SpaceX, OpenAI, and Anthropic May Deliver a Fatal Blow to the Trump Bull Market Thanks to a New Rule

The article warns that impending mega-IPOs from SpaceX, OpenAI, and Anthropic—each potentially trillion-dollar companies—could destabilize the recent Trump-era rally if new index rules accelerate their inclusion. Nasdaq’s “Fast Entry” rule (effective May 1, 2026) would allow qualifying large IPOs into the Nasdaq-100 after ~15 trading days, and S&P Dow Jones is considering cutting S&P 500 admission to six months and waiving profitability requirements. Fast-track inclusion would force passive index funds to buy large allocations into likely overvalued, potentially unprofitable IPOs, creating a tailwind at first but risking a sizable market correction given historical post-IPO underperformance. The piece is a market-focused cautionary view that index rule changes could amplify volatility and weightings, undermining the S&P 500’s recent gains.