U.S. stocks closed significantly lower on Wednesday after Nvidia cautioned about substantial costs due to new U.S. restrictions on chip exports to China. Adding to market concerns, Federal Reserve Chair Jerome Powell noted signs of a slowdown in U.S. economic growth during his speech at the Economic Club of Chicago.
He also pointed out that unexpectedly high tariffs could lead to increased inflation and weaker growth. However, Powell emphasized that the Fed would hold off on adjusting interest rates until clearer economic data emerges.
Comments
Post a Comment