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Barchart
Barchart
Rich Asplund

FORGOTTEN HISTORY: Stocks plummet on semiconductor weakness and powell comments | History Defined

Powell United States Nasdaq SP Donald Trump Semiconductor US Federal Reserve Dow Jones Dow Jones Industrials Nvidia

The S&P 500 Index ($SPX) (SPY) Wednesday closed down -2.24%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down -1.73%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -3.04%.  June E-mini S&P futures (ESM25) are down -2.12%, and June E-mini Nasdaq futures (NQM25) are down -2.83%. 

Stock indexes on Wednesday sold off sharply.  Semiconductor stocks plunged on Wednesday to lead the overall market lower.  Nvidia closed down more than -6% after the US government barred the sale of its H20 chips to China, with Nvidia saying the ban will cost it $5.5 billion in Q1 tied to inventory and commitments for the chips.  Also, ASML Holding NV closed down more than -7% after reporting that Q1 bookings were below consensus.  Stocks added to their losses Wednesday after the WTO cut its 2025 global trade estimates.

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