Wall Street today: Dow Jones, S&P 500, Nasdaq slip after new curbs on chip exports to China, Nvidia tumbles 7% | Stock Market News
Source: Live Mint
US stock indices slipped on Wednesday, after AI-chip giant Nvidia flagged steep charges from new US curbs on chip exports to China.
Shares of Nvidia tumbled 6.5%.
At the opening bell, the Dow Jones Industrial Average fell 189.5 points, or 0.47%, to 40,179.49. The S&P 500 fell 60.9 points, or 1.13%, to 5,335.75, while the Nasdaq Composite dropped 323.5 points, or 1.92%, to 16,499.693.
Late Tuesday, the US Commerce Department issued new export licensing norms for Nvidia’s H20 and AMD’s MI308 artificial intelligence chips to China.
Nvidia said it faces $5.5 billion in charges after the restrictions on exports to China.
Separately, President Donald Trump ordered a probe into potential new tariffs on all US critical minerals imports, on top of reviews into pharmaceutical and chip imports.
