He's big numbers, it is, Jarring. This is a sea of red out there, but I think it's important amid this pullback in this downturn to keep two things in mind. One is that President Trump didn't actually call off the meeting. I think there's still some prospect that President Trump and President Xi could actually meet at the end of the month. Secondly, the president only threatened tariffs; they weren't actually announced, so this hasn't been taken all the way. We do think this is a bumpy path toward negotiations between US and China but we do think it's a path that will ultimately start to have some progress. Both sides are carving out very tough negotiating positions, but that's the nature of the tension between these two superpowers.

Well, it's in the mix and there are a host of things including the labor market and the layoffs with the government shutdown plays into that. But I think broadly what this does is it injects uncertainty into the economy, into the markets where before there was an element of complacency. And this also means that businesses that were perhaps thinking about starting to hire again, how they were going to expand. Now want to take another pause to see how all this is going to play out. So I think it's that uncertainty that is showing up in multiple fronts which you can probably ascribe to this big downturn taking place today.

I think there's a floor under the macro picture. Looks strong and we're still in the exponential upturn for both AI adoption and innovation. Let's assume face to be.