Welcome to Markets Desk, your midday read on what's moving money and markets.
SpaceX shares have shed roughly twenty-eight percent since their historic IPO, a sharp reversal that's rattling retail investors who piled in at peak enthusiasm. The question now is whether this is a healthy reset after an overextended debut, or an early signal that the market priced perfection into a company still burning capital at scale.
Shifting to the broader tech landscape, thirteen of the largest AI players, from Alphabet to Oracle, are collectively sitting on one point one three trillion dollars in cash. That's not a typo. Even after enormous infrastructure buildouts, these companies have been raising capital faster than they're deploying it, which means AI spending has real runway even if equity markets turn significantly uglier from here.
And in crypto, the alleged six point three billion dollar hack of Binance is drawing direct attention from the White House, with President Trump confirming the administration is actively looking into the breach. The incident is accelerating calls on Capitol Hill for comprehensive crypto legislation, putting regulatory pressure back at the center of digital asset markets just as the sector was regaining institutional confidence.
That's the tape. Markets Desk, signing off the floor.
