From Nasdaq: 2025-04-16 19:02:00

On Wednesday, major market indexes closed lower after Fed Chair Jerome Powell’s comments. The Dow ended -699 points, the S&P 500 -120 points, the Nasdaq -516 points, and the Russell 2000 -19 points. NVIDIA’s curb on H20 chips for China cost them $5.5 billion, leading to a -7% drop, along with AMD.

Powell warned of high inflation and unemployment due to tariff policy, potentially impacting interest rates. He expressed concern over slow growth and high inflation, stating the Fed may struggle to rescue the economy. Powell also addressed U.S. debt, unsustainable deficits, and the need to address spending cuts.

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