Welcome to Markets Desk, your midday read on what's moving markets and why.
Tech is taking the hit today, with the S&P five hundred off one percent and the Nasdaq one hundred sliding more than two percent as investors rotate out of growth names. The selling is broad across the technology sector, with futures confirming the pressure extends beyond the cash session. Risk appetite is clearly cooling.
That backdrop makes Berkshire Hathaway's move all the more notable. New chief executive Greg Abel is signaling a meaningful departure from Warren Buffett's long-standing tech skepticism, placing a substantial bet on Alphabet. It's an early statement of intent from Abel, and the market will be watching closely to see whether this marks a genuine strategic pivot for the Omaha giant.
Meanwhile, in the soft commodities market, cocoa is under serious pressure. New York futures are down more than five and a half percent today, hitting a two-week low, as weak demand and rising inventories combine to push prices sharply lower. After the extraordinary run cocoa staged over the past two years, this week's retreat suggests the supply picture may finally be stabilizing, taking some heat out of what had been one of the most dramatic commodity rallies in recent memory.
That's the tape. Markets Desk, signing off the floor.
