Good morning, you're listening to Markets Desk.
Novartis is taking a brutal hit today, with shares falling close to ten percent and threatening the worst single session on record for the Swiss pharmaceutical giant. The company's del-desiran drug failed to meet its primary endpoint in a Phase three trial targeting myotonic dystrophy, and that setback is rippling well beyond Zurich. Because Novartis carries meaningful weight in the Dow Jones Industrial Average, futures on the blue-chip index are underperforming the broader S&P five hundred by a notable margin this morning — a reminder of how one overseas clinical miss can reprice an entire index before the opening bell even rings.
Shifting to crypto, a new report from CoinGecko finds that digital asset platforms have lost more than three point six three billion dollars to cyberattacks — and here is the part that should give investors pause — more than sixty percent of those platforms had already undergone independent security audits before the breaches occurred. That finding fundamentally challenges the assumption that a clean audit translates into meaningful protection against sophisticated bad actors.
And on the data center front, a political reversal is quietly taking shape across the country. Eleven elected officials who once championed data center development are now walking back their enthusiasm amid growing constituent pushback over power consumption, water use, and local land impact. The policy tailwind that the AI infrastructure buildout has relied on may be getting more complicated.
That's the tape. Markets Desk, signing off the floor.
