From Yahoo Finance: 2025-05-30 11:15:00

Nvidia stock dropped 2% after Trump claimed China violated a trade agreement with the US. Nasdaq fell 0.3%, S&P 500 down 0.1%. US and China agreed to reduce tariffs. US dropped duties on China to 30%, China reduced tariffs to 10%. Talks stalled, concerns about Chinese compliance.

Nvidia took a $5.5 billion hit from Trump’s ban on chip sales to China. Company lost $2.5 billion in sales in Q1, expects $8 billion loss in Q2. China is Nvidia’s biggest market. CEO says no new products planned for China market yet, considering options.

Some on Wall Street optimistic about Nvidia’s China prospects. DA Davidson analyst says China remains a big concern for Nvidia until resolution. CEO Huang says company will engage with administration when limits ease. China is a major market for Nvidia. 1. The Senate passes a $1.9 trillion COVID-19 relief bill, including $1,400 stimulus checks for many Americans. The bill also extends unemployment benefits and provides funding for vaccine distribution.

2. NASA’s Perseverance rover successfully lands on Mars, beginning its mission to search for signs of ancient life on the planet. The rover will collect samples of Martian rock for future return to Earth.

3. The United States surpasses 500,000 COVID-19 deaths, a grim milestone in the ongoing pandemic. Health officials warn that new variants of the virus could lead to further surges in cases.

4. Amazon founder Jeff Bezos announces he will step down as CEO later this year, transitioning to the role of executive chairman. Andy Jassy, the current head of Amazon Web Services, will take over as CEO.

5. Texas experiences a severe winter storm, causing widespread power outages and water shortages. Millions are left without electricity and facing dangerous conditions as temperatures drop below freezing.

6. The GameStop stock frenzy continues as Reddit traders drive up the stock price, causing turmoil on Wall Street. Hedge funds face significant losses while individual investors celebrate their success in the volatile market.

Read more: Nvidia stock falls as Trump says China ‘violated’ trade deal with US