Welcome to Markets Desk, let's get you caught up on the stories moving the needle today.
SanDisk shares took a sharp hit in today's session, but analysts are pushing back hard against the selloff, urging investors to buy the dip. Semiconductor volatility remains elevated across the board, and SanDisk is the latest name caught in that churn. The analyst community sees the decline as disconnected from underlying fundamentals.
Shifting to the legal and regulatory space, a federal judge has referred one of Donald Trump's attorneys to the state bar after finding that a lawsuit filed against the IRS served what the court called an improper purpose. The case had previously been settled by the Justice Department, which agreed to establish a one point eight billion dollar fund labeled a lawfare reserve, though that fund has since been dissolved.
And in a development that could reshape how business entities are structured, Delaware's Secretary of State has partnered with Norm AI to formally propose what's being called the AIC, an Autonomous Intelligence Corporation, a legal entity designed specifically for AI agents that can contract, transact, and operate without direct human oversight. The proposal puts Delaware, already the gold standard for corporate formation, at the frontier of this emerging legal question.
That's the tape. Markets Desk, signing off the floor.
