US stocks face further trouble and won't rally until Fed cuts rates: JPMorgan

faces a near-term selloff and likely won't rally until the Federal Reserve starts cutting interest rates, according to JPMorgan's top strategist.

US stocks took a beating on Tuesday after rallying since the start of 2023, as investors grow concerned that stubbornly high inflation will convince the Fed to keep lifting interest rates. The S&P 500 notched itsInflation has been slowing from the 40-year high of 9.1% annualized rate reached last year, but is still way above the Fed's 2% target, .

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