| Bloomberg Morning Briefing Americas |
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| Good morning. Tesla faces turbulence in Europe, but Cathie Wood is unfazed. Another AI-related bubble is brewing. And why top restaurants are all about the party vibe. Listen to the day’s top stories. |
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| Markets Snapshot | | | | Market data as of 07:58 am EST. | View or Create your Watchlist |
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| Bubble watch. Wall Street is getting jittery about big AI bets—and now, Alibaba’s Chairman Joe Tsai is joining the chorus. He warns that the AI datacenter boom might be outpacing demand, fueling a potential bubble. Meanwhile, tech leaders and foreign officials are pressuring the Trump administration to reconsider its chip strategy. Check out our Big Take below on how Google is reshaping its search engine with AI. US-Europe tensions are at a boiling point already. Private texts between top US officials on plans to strike Yemen’s Houthi militants, as exposed in The Atlantic, have turned the heat up even more. “I just hate bailing Europe out again,” a user identified as Vice President JD Vance said in the chat. “VP: I fully share your loathing of European free-loading,” replied Defense Secretary Pete Hegseth, who later said “nobody was texting war plans.” House Speaker Mike Johnson, President Trump and Louisiana Governor Jeff Landry at the White House on March 24.Photographer: Samuel Corum/Sipa Donald Trump continues to barrel ahead with his tariffs. The latest target: auto tariffs will be announced soon, he said, and teased the possibility of nations getting breaks in his planned reciprocal system. The president also appeared to invent a new weapon of economic statecraft by threatening what he dubbed “secondary tariffs.”
Corporate news: Boeing is looking to back out of its deal signed with US prosecutors to plead guilty to misleading regulators prior to a pair of deadly 737 Max crashes in Indonesia and Ethiopia, the WSJ reported. The plane-maker is banking on more lenient treatment from the Justice Department under the Trump regime.
Bloomberg Tech: Join top tech decisionmakers and influencers on June 4-5 in San Francisco. Decode technology’s evolving role across business, culture and healthcare as we discuss the advances transforming industries and how they impact society. Learn more. |
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Deep Dive: The Essential Device |
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| A large power transformer in the high voltage testing area at the GE Vernova factory, Stafford, UK, in February 2025. Photographer: Tom Skipp/Bloomberg London Heathrow’s shutdown last week highlighted how crucial a piece of technology the humble electrical transformer is. But it’s not easy to get one these days and, without one, projects of all kinds end up delayed. In the US, a scarcity of the devices slowed down recovery in the aftermath of extreme weather. They’re expensive, too—prices have almost doubled since 2018. And in Europe, a shortage of transformers has throttled the buildout of cheap renewables, just as an energy crisis caused electricity costs to spike. Even comparably low-tech projects can end up hamstrung for want of a piece of equipment that’s been in widespread use for more than a century. |
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| Google’s search empire faces an AI reckoning as it races to catch up with ChatGPT, reshaping its core product under Elizabeth Reid’s leadership. The tech giant is grappling with declining web traffic for publishers and the rise of AI-generated content, potentially transforming the internet landscape forever. |
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| President Trump’s Liberation Day may finally reveal where his bite matches up to his bark, John Authers writes. Even so, don’t expect much clarity on April 2. Subscribe to Stock Movers, your 5-minute podcast on the winners and losers of each trading day. |
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| Illustration by Tomi Um New York’s hottest restaurants have mastered the art of perfect vibes with packed dining rooms and waitlists in the thousands. The key elements? A party vibe, interiors with character, relaxed service, comfort food and a curated crowd, all of which combine to create a unique and coveted dining experience. |
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