Shares of leading designer of graphics chips Nvidia (NASDAQ:NVDA)
fell 7.8% in the afternoon session after China imposed a 34% tariff on all U.S. imports amid escalating trade war tensions. This was especially rough for the US chipmakers because a big chunk of their business leans on demand out of China. The new tariffs not only threaten to erode profit margins but also risk reducing market share.
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Wall Street's decline blamed on tech stocks, not Trump's tariffs. Treasury Secretary Scott Bessent says reassessment of AI valuations triggered selloff.
Federal Reserve Chair Jerome Powell signaled patience on rate cuts amid rising uncertainty, while U.S. President Donald Trump framed the current moment as an opportunity to lower borrowing costs and sustain economic momentum.
China’s tariffs target a broad swath of U.S. goods and came alongside other punitive measures, including an expanded “unreliable entities list” and an antitrust investigation into DuPont.
Microsoft has paused data center development and negotiations in multiple locations, citing tariff announcements and concerns of AI computing overcapacity
Nvidia stock is struggling with bearish signals and HSBC downgraded it due to limited near-term upside. Long-term catalysts include AI and autonomous vehicles.
