Good evening, this is Markets Desk with your closing rundown.
Lucid Group's stock took a dramatic hit today, plunging more than fifty percent intraday after bankruptcy rumors swept the market. The EV maker moved quickly to deny the reports, calling them completely false, and shares pared the bulk of those losses, though the stock still settled at a record low — a sign that confidence in the name remains deeply fragile.
Shifting to the regulatory front, New York Governor Hochul signed a statewide moratorium on hyperscale data centers, halting all new development until July twenty twenty seven. The move makes New York the first state to formally pump the brakes on the AI infrastructure buildout, giving regulators time to establish new standards around energy consumption and environmental impact — a potential template other states may follow.
And on the commodity side, sugar prices closed higher Tuesday after Brazil approved an increase to its ethanol blend mandate. The logic is straightforward — more ethanol in the fuel mix means more sugarcane diverted from sugar production, tightening supply expectations and giving both New York and London sugar futures a modest lift to close the session.
That's the tape. Markets Desk, signing off the floor.
