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In the wake of these developments, shares of Nvidia (NASDAQ:NVDA), the multinational technology company, plummeted by -5.68%. The drop was a result of the US government’s restrictions on certain chip exports due to security concerns.
Other significant indices also recorded declines. The Dow Industrial Average fell by -50.05 points (-0.15%), and the S&P index dropped -28.35 points (-0.65%).
Despite the bearish trend in the stock market, US rates ascended, reflecting encouraging retail sales data. This shows a silver lining in an otherwise gloomy market scenario, suggesting that consumer spending continues to be robust amidst economic uncertainties.
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