Welcome to Markets Desk, here's what's moving the needle this hour.
Treasury Secretary Scott Bessent is calling for a dramatic leadership shake-up at Nvidia, pushing for an outside chief executive and leveling sharp criticism at Commerce Secretary Howard Lutnick over suspected chip diversion to China. The remarks put fresh geopolitical pressure on the semiconductor giant at a moment when export controls are already front of mind for investors.
Shifting to crypto, Tether is making a serious push to position its gold-backed token, XAUT, as a direct competitor to traditional gold ETFs. Anchorage Digital is now supporting institutional sales and client financing of the token, though direct redemption through the issuer still requires separate eligibility — a friction point that could limit mainstream adoption in the near term.
And on the retirement front, Dave Ramsey is sounding alarms about what he calls outdated financial thinking. With sixty-two percent of current retirees leaning heavily on Social Security as a primary income source, Ramsey warns that younger workers anchoring their plans to that same math are taking on far more risk than they realize, urging a harder look at four-oh-one-k and IRA strategy now.
That's the tape. Markets Desk, signing off the floor.
