The S&P 500 record run in the green stalls after Apple and Nvidia post 1 per cent declines. Tesla faces numerous valuation cuts with Wells Fargo calling the EV maker “a growth company with no growth”. Share have tumbled more than 4 per cent. We hear from HSBC Group CFO, Georges Elhedery, who predicts a U.S. soft-landing in H2 and says a lower rate environment will not have an impact on his company’s revenue guidance. The ECB outlines plans to incentivise inter-bank lending and to reduce its presence in financial markets. And in Washington, the U.S. House of Representatives votes overwhelmingly in favour of banning the Chinese social media app Tik Tok. The bill will now pass through the Senate.