US Stock Market Highlights: Dow drops nearly 700 points, Nasdaq tumbles 3% in tech-driven sell-off

US Stock Market Highlights: US stocks fell sharply on Wednesday (April 16), hit by a double blow from Nvidia’s China-related warning and Federal Reserve Chair Jerome Powell’s caution over the economic impact of tariffs.The Dow Jones Industrial Average dropped nearly 700 points, or 1.7%. The S&P 500 slid 2.24%, weighed down by losses in the tech sector.

US Stock Market Highlights: US stocks fell sharply on Wednesday (April 16), hit by a double blow from Nvidia’s China-related warning and Federal Reserve Chair Jerome Powell’s caution over the economic impact of tariffs. The Dow Jones Industrial Average dropped nearly 700 points, or 1.7%. The S&P 500 slid 2.24%, weighed down by losses in the tech sector. The Nasdaq Composite sank 3.07%, edging closer to bear market territory. Nvidia shares plunged 6.9%, heading for their worst day since January, after the company disclosed a $5.5 billion quarterly charge. The charge stems from new US export restrictions requiring a license to ship its H20 graphics processing units to China and other countries, the chipmaker said in a regulatory filing.