Good afternoon and welcome to Markets Desk.
The FDA is putting GLP-1 drugs under fresh scrutiny, flagging evidence of a potential increased risk of a rare vision loss condition tied to weight management medications like Wegovy and Zepbound. That's a significant development for Novo Nordisk and Eli Lilly, whose blockbuster obesity franchises have driven billions in market capitalization — any regulatory cloud over safety profiles tends to move these names fast and hard.
Shifting to crypto markets, BlackRock's Bitcoin ETF is flashing a notable warning sign. Seven straight sessions of net outflows from the IBIT fund have now totaled one point six six billion dollars, with Monday alone shedding two hundred one million. That kind of sustained institutional withdrawal deserves attention — it suggests the smart money may be taking chips off the table rather than riding out near-term volatility.
And in a story that speaks to where traditional finance and digital infrastructure are converging, the New York Stock Exchange is moving to bring equities trading onto the Avalanche blockchain. Avalanche would serve as the clearing ledger for the proposed venue, though broker distribution is already in motion and regulatory approval remains outstanding — meaning this is directionally significant but not yet a done deal.
That's the tape. Markets Desk, signing off the floor.
