Big Tech's $890B selloff, Fed hike odds resurface, new US tariffs take effect

In this briefing

• Big Tech loses $890B in market cap on runaway AI-spending worries.
• Tariff-driven inflation concerns put a Fed rate hike back on the table.
• The US imposes new tariffs on dozens of countries citing forced-labor concerns.
• UK mortgage rates rise to their highest level in a month.

Desk Analysis

Four seemingly separate stories actually converge on one pressure chain: tariffs push prices up, price worries push rate expectations up, and those rates squeeze both Big Tech valuations and consumer borrowing costs at the same time. The individual headlines matter less than not losing sight of that chain.

For informational purposes only. Not investment advice.