AI stocks are in an ‘air pocket’ and Meta and Microsoft are being traded like ‘bear market names that cannot be owned,’ top analyst says

Good morning. On Fortune’s radar today:

• Iran war raised shipping prices globally.
• AI stocks are in an “air pocket,” Dan Ives says.
• Markets: broadly up—correction incoming?
• Too hot to work: Europe’s heat crisis has a $638 billion price tag.
• AI is causing inflation, just look at these charts.
• Mass cheating scandal shows willingness of students to behave like “idiots,” Brown University professor says.

This story was originally featured on Fortune.com