The S&P 500 faces a near-term selloff and likely won't rally until the Fed starts cutting rates, JPMorgan's top strategist says
JPMorgan's Marko Kolanovic said the S&P 500 could fall 5%, while high-beta tech stocks could drop up to 10% in the near term.
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### Instruction: The S&P 500 faces a near-term selloff and likely won't rally until the Fed starts cutting rates, JPMorgan's top strategist says

### Response: JPMorgan's Marko Kolanovic said the S&P 500 could fall 5%, while high-beta tech stocks could drop up to 10% in the near term.