The S&P 500 was down 0.9% in early trading. The Dow Jones Industrial Average was down 180 points, or 0.4%, as of 3:35 pm CEST, while the slide for Nvidia and other stocks in the chip industry dragged the Nasdaq composite down a market-leading 1.7%.
Nvidia was the single heaviest weight on the market and dropped 5.7% 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 limits could shave roughly $5.5 billion (€4.8bn) off Nvidia’s results for the first quarter, covering charges related to inventory and purchase commitments.
