Welcome to Markets Desk, here's what's moving markets right now.
Tesla shares took a hard hit Thursday as investors digested a cash-burn story tied to the company's aggressive artificial intelligence spending push. The concern is straightforward: capital is flowing out faster than the robotaxi and autonomous ambitions can generate returns, and Wall Street is losing patience with the timeline.
That anxiety around AI spending costs spilled directly into Amazon, which fell nearly five percent Thursday without reporting a single number of its own. The culprit was guidance from other major tech players signaling heavier capital expenditure ahead, which spooked investors into questioning whether Amazon's own cloud and AI buildout will pressure margins when it reports on July thirtieth.
And on the macro front, Trump's new global tariff framework is drawing sharp rebukes from trade partners worldwide, who are specifically rejecting the forced-labor justification used to underpin the measures. Most nations signaled they would continue negotiating rather than retaliate immediately, but the uncertainty is weighing on emerging market equities, with Indian shares set to extend losses Friday amid the tariff overhang and regional geopolitical tension.
That's the tape. Markets Desk, signing off the floor.
