From Yahoo Finance: 2025-04-16 16:45:00

On Wednesday, the S&P 500 fell 2.2% as Federal Reserve Chair Powell discussed inflation risks due to tariffs. Semiconductor stocks dropped after Nvidia and AMD anticipated charges from export restrictions. Oil prices rebounded, boosting oil and gas stocks. Major U.S. indexes plummeted, with the tech sector underperforming.

J.B. Hunt Transport Services saw a 7.7% drop after earnings release, citing tariff impacts on demand. Omnicom and Interpublic Group plan to move forward with an acquisition despite share drops. Nvidia and AMD expect significant charges due to export restrictions, causing stock declines. Palantir shares fell after NATO deal announcement.

Crude oil prices rose following U.S. sanctions on Chinese importers of Iranian oil. Abbott Laboratories shares surged 2.8% after strong first-quarter sales and profit reports. Gold prices hit another record high amid geopolitical tensions. APA Corp. led S&P 500 performance with a 3.2% gain.

Read more: Chip Stocks Drop as Top Firms Cite Export Restriction Effects