June Nasdaq 100 E-Mini futures (NQM25) are trending down -1.22% this morning as sentiment took a hit after the Trump administration imposed new restrictions on Nvidia’s chip exports to China.
The Trump administration has barred Nvidia from selling its H20 chip in China, further escalating the trade war between the world’s two largest economies. The U.S. government notified Nvidia that the company must now obtain a license to export its H20 processors to China and several other countries, according to a Tuesday filing. The chipmaker cautioned it would incur up to $5.5 billion in related charges in its fiscal first-quarter results. As a result, shares of Nvidia (NVDA) slumped over -5% in pre-market trading.
