New York data center moratorium

What happened: On Wednesday, President Trump criticized New York Governor Kathy Hochul's new data center moratorium, urging her to change policy immediately. Hochul signed an executive order on Tuesday, making New York the first U.S. state to pause large-scale data center construction for one year, citing soaring utility bills and strain on natural resources.

Market impact: Tech giants like Microsoft, Amazon, and Google, which operate data centers in New York, could face delays in expanding their infrastructure. The moratorium may impact the data center REIT sector, with Equinix and Digital Realty Trust potentially seeing slower growth in their New York operations.

What to watch next: Hochul's office is expected to release more details on the moratorium's implementation in the coming days. Additionally, tech companies' Q2 earnings reports, scheduled for late July to mid-August, may provide insights into how they plan to adapt to this regulatory change.