Good morning, you're listening to Markets Desk.
Global equities are taking a hard hit today as investors aggressively unwind positions in AI-linked tech stocks. The selloff is broad and steep, with traders reassessing whether the enormous capital commitments from hyperscalers can actually deliver returns. Apollo's analysts are now warning that a pullback in that spending could be enough to tip the wider economy into recession, which is adding genuine fear to what started as a crowded-trade unwind.
Staying in the AI space, Apple has sent legal letters to dozens of OpenAI employees, escalating what is becoming a serious trade secrets dispute between the iPhone maker and the lab. Apple's tactics here are notably aggressive, signaling the company views the talent and intellectual property crossover as a direct competitive threat, not merely a personnel matter.
And SpaceX shares are sliding roughly four percent in premarket after the company postponed a critical launch mission. The timing is particularly painful given the stock was already trading below its IPO reference price, and any further delay in demonstrating operational reliability will put additional pressure on a valuation that was already stretched by private-market optimism.
That's the tape. Markets Desk, signing off the floor.
