Welcome to Markets Desk, your midday read on what's moving markets and the stories driving conversation.
Global equities are under significant pressure today as a tech-led selloff grips markets from Wall Street to Asia. The rout is deepening, with semiconductor and growth names bearing the brunt of the selling. Investors appear to be rotating out of high-multiple tech positions amid renewed concerns about valuations and global demand signals.
That tech anxiety has a geopolitical dimension worth watching. A new book reveals Elon Musk warned President Trump and a room full of tech CEOs that the United States was, quote, headed for disaster if China were to invade Taiwan and sever access to its chipmaking capacity. Musk, who served as a close White House advisor in early twenty twenty five, reportedly framed America's semiconductor dependence on the island as an acute national vulnerability, pushing the conversation toward domestic chip production.
On the legal and regulatory front, top Silicon Valley law firm Cooley is launching an AI-powered portal called Cooley Go Lab, designed to handle routine contract drafting and review for startup founders. The firm is partnering with Legora on the tool, which debuts exclusively with Y Combinator's summer cohort. It's a clear signal that established law firms are moving aggressively to stay relevant as founders increasingly turn to chatbots for legal work.
That's the tape. Markets Desk, signing off the floor.
