US stocks, particularly tech companies, are facing a significant slide from record highs due to multiple factors. Concerns about US export restrictions on China and President Trump's stance on Taiwan are causing futures for the Nasdaq 100 and S&P 500 to plummet. Despite hopes for interest-rate cuts, worries about tech risks are overshadowing the recent rally. Heavyweights like Nvidia are seeing pre-market losses, and ASML is dropping after potential export restrictions. Trump's comments on Taiwan are hitting companies like TSMC hard. However, positive corporate earnings reports and upcoming economic data releases could potentially shift the market trend. The Federal Reserve Beige Book release may provide insight into the likelihood of a second rate cut in 2024. The BofA fund manager survey also suggests that an election sweep could impact bond yields, the US dollar, and US stocks.