JPMorgan reaffirmed its bullish stance on equities after a sharp Monday selloff driven by calls for slower AI expansion, sticky inflation and renewed rate-hike concerns. The Philadelphia Semiconductor Index plunged nearly 6% as U.S. stocks fell across the board. Mislav Matejka, JPMorgan’s head of global and European equity strategy, warned that aggressive short sellers could face a sharp rebound if Trump seeks to cool Middle East tensions diplomatically or third-quarter earnings exceed expectations. JPMorgan raised its year-end S&P 500 target in August from 7,800 to 8,000 and expects constituent earnings per share to rise 29% year over year to $350.