The shift in Big Tech's valuation is causing a significant shift in the way investors price these companies. The S&P 500 posted its biggest one-day gain since May, while the Nasdaq surged 3.6%. Other tech companies like Google and Meta are borrowing more money to fund this shift, which requires them to scale down through capital. This shift is seen as a significant disruption in how the tech business operates. Investors are starting to price in this change, with companies' borrowing spending becoming more sensitive to interest rates. The Iran war, oil prices, and inflation expectations also contributed to this volatility.