Phone Company Stocks Drop After SpaceX Airwave Deals

Verizon, T-Mobile and AT&T shares fell sharply on October 9, 2026. Verizon dropped 8.75%, its worst single day since 2002, according to CNBC. T-Mobile fell 13.27%, AT&T 9.81%. Reuters linked the drop to SpaceX's dealings in spectrum, the radio airwaves phones run on, including an agreed $8 billion purchase of Grain's airwaves, not yet completed.