President Trump wants to cut some tariffs, more investors lose faith the Fed will cut rates in Dec

Group 1 - Major tech stocks including Bitcoin, Tesla, Nvidia, and SoftBank are experiencing significant declines in pre-market trading, following Wall Street's sharpest selloff in over a month [2][3] - Investors are increasingly skeptical about a potential rate cut by the Federal Reserve in December, influenced by hawkish comments from Fed officials and concerns over high valuations in the tech sector [3][13] - President Trump is proposing substantial tariff cuts to address high food prices, with agreements reached with several Latin American countries to reduce tariffs on grocery items [4][5] Group 2 - Apple reported a 22% increase in iPhone sales in China year-over-year, despite a general market slowdown [5] - Samsung has raised prices of certain memory chips by up to 60% due to a shortage driven by the demand for AI data centers [6] - Cisco's AI infrastructure orders doubled from $1 billion to $2 billion last year, indicating strong demand in the AI sector [26][29] Group 3 - Concerns about a potential AI bubble are affecting market sentiment, with some analysts describing the current situation as a "rational bubble" that could lead to pullbacks [9][10] - The overall economy shows signs of strength, but there are underlying pressures on low-income consumers, raising questions about the need for a rate cut [13][14] - The demand for AI infrastructure is expected to continue growing, with Cisco positioned to benefit from this trend [39][43]