Stocks dropped Wednesday as the costs of US restrictions on global trade compounded. The S&P 500 fell 120.93 points, or 2.2%, to 5,275.70. The Dow Jones Industrial.
Stocks dropped Wednesday as the costs of US restrictions on global trade compounded.
Some companies say they’re already seeing effects from the higher barriers to trade Washington is implementing. Nvidia dropped 6.9% after it said the US government is restricting exports of its H20 chips to China, citing worries that they could be used to build a supercomputer. The restrictions could mean a hit of $5.5 billion to Nvidia’s results for the first quarter, covering charges related to inventory and purchase commitments.
