Value of Nvidia dropped by billions on Wednesday after president imposed new restrictions on the chip giant
US stocks fell again on Wednesday after Donald Trump imposed a new trade restriction on the chip designer Nvidia, rattling investors as the Federal Reserve’s chair warned the president’s tariffs are generating a “challenging scenario”.
The chip giant’s announcement was followed by a warning from Fed chair Jerome Powell that Trump’s tariffs were likely to “generate “at least a temporary rise in inflation” and that those effects could “also be more persistent”.