Fears of slowing US growth drag down S&P 500 — Reuters

Reuters reports that US stocks fell sharply on Wednesday due to concerns about slowing economic growth and rising import tariffs. Major indices suffered significant losses, with the S&P 500 declining 2.24%, the Dow Jones dropping 1.73%, and the Nasdaq falling 3.07%. This market volatility reflects increased investor and business uncertainty over US trade policy.

Nvidia shares tumbled after the company announced a $5.5 billion charge due to American restrictions on exporting certain chips to China, one of its primary markets. This move is part of the ongoing trade tensions between the US and China, which recently raised tariffs on American goods.

Federal Reserve Chair Jerome Powell noted a slowdown in US GDP growth in the first quarter and warned that inflation could rise due to new trade restrictions. Powell indicated that the central bank will await further economic data before making a decision on interest rates.