Stocks Close Lower on Tech Rout, NYC High-Rise is Collapse Risk, More
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What is the main topic discussed in this episode?
This week on Leaders, with me, Francine Lacqua.
What insights does Rafa Nadal share about staying competitive despite injuries?
I speak to tennis legend Rafa Nadal about how he stayed competitive despite injury.
I was able to enjoy the victories probably more than if I will not have this issue.
One iconic match.
In my mind was, I am almost dead.
And whether he misses playing.
I don't miss tennis because there was nothing else to offer.
Listen and watch Leaders with me, Francine Lacroix, on Bloomberg Television or wherever you get your podcasts.
News when you want it with Bloomberg News Now. I'm Amy Morris. And there's a closing bell for this Tuesday on Wall Street where chip stocks tumbled on worries that the rally has run too far. We bring you the closing numbers each day here at Bloomberg. The S&P 500 lost 34 points. NASDAQ down 302 points. The Dow down 131 points. The 10-year Treasury yield at 4.54% and the 2-year yield at 4.18%. SpaceX also trading on the Nasdaq 100 today. SpaceX shares dropped more than 6.8%. Turning to our top story at this hour, construction crews have been pulled from a 37-story Midtown Manhattan building after reports of bricks falling from the first floor. Now, responders say there was no evidence of the bricks falling, but they do emphasize that this building is unstable.
New York City Mayor Zoran Mamdani.
The building remains unstable. Since arriving on scene, we have witnessed additional movement in one of the compromised columns. First responders and structural engineers are working closely with the project engineer to develop plans to shore up the impacted floor. If the floor is deemed to be secure, engineers will enter and begin shoring up the building.
Officials say other buildings and a school have been evacuated while the site is secured. FDNY Chief John Esposito says the situation remains serious and that the building has continued to move even since responders arrived.
The way this building is constructed, it's a steel frame building, so it would not be a total collapse. It would be more of a localized collapse, but that remains our concern. that it's moving.
The building is the former Pfizer headquarters. It's being converted into residential units. Turning now to the Middle East, the Treasury Department has revoked a general license that allows for the production, delivery and sale of crude oil, petrochemical products and petroleum products of Iranian origin. Treasury says that revocation is effective today as the wind down begins through July 17th. Hormuz has seen its biggest day of attacks since the U.S.-Iran peace deal.
How did the tech stocks perform in the latest market close?
The British military says at least two tankers have been struck by projectiles. Bloomberg's Anne-Marie Hordern.
Given the fact that we just had this Qatar vessel hit earlier this morning in the Strait of Hormuz, it's going to be whether or not Europe has the ability physically with hardware or the political will to support the United States when it comes to the conflict in Iran and truly opening up the Strait of Hormuz.
Bloomberg's Anne-Marie Hordern traveling with the president at the NATO summit. And oil prices are higher. WTI crude now more than $72 a barrel. Brent crude more than $75 a barrel. Both WTI and Brent are more than 5% higher. Turning now to the NATO summit in Turkey, NATO allies have agreed to at least $50 billion in defense industry deals to show President Trump that Europe is heeding his spending demands, and allies are close to a landmark agreement to extend a Cold War-era fuel pipeline network to Eastern Europe and Turkey. The president indicated he may try to reverse a ban on Turkey buying F-35 fighter jets from the U.S.
It's a decision we're going to make. We have a very good relationship. I would think that Many people, I can tell you, many people, including the people sitting right here, think, you know, why wouldn't we do that?
Trump says the U.S. has a better relationship with Turkey and that Turkey has been more loyal to the U.S. than other countries. He added that had the NATO summit not been held in Turkey, he might not have attended. At the NATO summit, Ukrainian President Vladimir Zelensky argued that today's wars have shown more needs to be done to protect against ballistic missiles.
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Chapters
4 chapters
1
What is the main topic discussed in this episode?
0:00–0:02
2
What insights does Rafa Nadal share about staying competitive despite injuries?
0:02–2:46
3
How did the tech stocks perform in the latest market close?
2:46–6:05
4
What safety concerns are associated with the Midtown Manhattan building?
6:05–7:23
Speakers
10 identifiedMore from Bloomberg News Now
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