The US Federal Reserve chair, Jerome Powell, warned Donald Trump’s tariffs were generating a “challenging scenario” for the central bank and were likely to worsen inflation.
Powell’s comments on Wednesday came US stock markets had already been rattled by a new trade restriction on the chip designer Nvidia. The sell-off picked up as Powell spoke to The Economic Club of Chicago.
The S&P 500 index ended the day down 2%, the tech-heavy Nasdaq index fell 3% and the Dow Jones dropped 1.7%.
www.theguardian.com
Powell’s comments on Wednesday came US stock markets had already been rattled by a new trade restriction on the chip designer Nvidia. The sell-off picked up as Powell spoke to The Economic Club of Chicago.
The S&P 500 index ended the day down 2%, the tech-heavy Nasdaq index fell 3% and the Dow Jones dropped 1.7%.
Fed chair says Trump tariffs could make inflation worse as US stocks slide further
Value of Nvidia dropped by billions on Wednesday after president imposed new restrictions on the chip giant
www.theguardian.com