Stock Markets Sink After Fed Chair’s Inflation Warning

CNBC reports:

Stocks fell sharply on Wednesday, as a stark warning from Nvidia roiled global tech and concerns from Federal Reserve Chair Jerome Powell about the economic impact of tariffs raised alarm among skittish investors.

The Dow Jones Industrial Average lost 699 points, or 1.7%. The S&P 500 dropped 3%, led down by the information technology sector. The Nasdaq Composite pulled back 4.3%, sliding closer to bear market territory.

Shares of Nvidia sank 10%, on track for its worst day since January after the chip giant said it will post a $5.5 billion quarterly charge related to exporting its H20 graphics processing units to China and other nations. The company said in a filing that the U.S. government required a license to send chips from the U.S. to China.

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Fed Chief Jerome Powell Signals Trump Tariffs ‘Tension’ On Inflation, Growth; Dow Jones Extends Losseshttps://t.co/NuwqkbXkD6

— Paul H. Kircher III (@PaulKircher7) April 16, 2025