View Live Stock Market TodayMajor Indexes Tumble as Nvidia News Rattles Markets
The stock market is experiencing significant volatility today, Thursday, April 17, 2025, as major indexes continue their downward trend amid escalating trade tensions and disappointing tech sector news. The S&P 500 is down 2.2% after falling as much as 3.3% earlier in the session, while the Dow Jones Industrial Average has dropped 699 points (1.7%), and the tech-heavy Nasdaq Composite has plunged 3.1%.
This market turbulence follows yesterday’s session where the S&P 500 sank to 5,275.70, the Dow fell to 39,669.39, and the Nasdaq dropped to 16,307.16. The decline represents a continuation of the chaotic swings that have upended Wall Street in recent weeks, primarily driven by President Trump’s tariff announcements and their potential impact on global trade.
Tech Giants Face Export Restrictions and Earnings Challenges
Nvidia (NVDA) shares have fallen 6.9% after the company announced that the U.S. government is restricting exports of its H20 chips to China. This restriction could result in a substantial $5.5 billion hit to Nvidia’s first-quarter results, covering charges related to inventory and purchase commitments.
Similarly, Advanced Micro Devices (AMD) has seen its stock sink 7.3% following news that U.S. limits on exports to China for its chips may mean a hit of up to $800 million for inventory and other charges.
The semiconductor sector is facing particular pressure as trade tensions between the U.S. and China intensify, with ASML’s stock dropping 5.2% in Amsterdam despite continued demand for AI technology.
Key Earnings Releases Today
Several major companies are reporting earnings today, which could further impact market sentiment:
– UnitedHealth Group (UNH) is expected to report Q1 earnings of $7.29 per share, representing a 5.21% increase compared to the same quarter last year.
– American Express (AXP) is anticipated to report earnings of $3.54 per share, a 3.90% increase from the previous year.
– Taiwan Semiconductor Manufacturing Company (TSM) is projected to report earnings of $2.05 per share, a remarkable 47.10% increase year-over-year.
– Other notable companies reporting today include Charles Schwab (SCHW), Blackstone (BX), Truist Financial (TFC), and D.R. Horton (DHI).
Fed Chair Powell Comments on Tariffs and Economic Uncertainty
Federal Reserve Chair Jerome Powell has added to market concerns by stating that Trump’s tariffs appear to be more significant than initially expected, potentially slowing economic growth and raising inflation. Powell emphasized that the Fed will need more time before deciding whether to adjust interest rates, noting that the economic effects of the tariffs remain “highly uncertain.”
“We’re thinking now, really before the tariffs have their effects, about how they might affect the economy. That’s why we’re waiting really to see what the policies ultimately are, and then we can make a better assessment of what the economic effects will be,” Powell stated.
Upcoming Market Events and Economic Indicators
Investors are closely watching for the release of March’s retail sales report, with economists anticipating a 1.2% increase month-over-month, up from a 0.2% climb in February. This data is particularly significant as it may indicate how consumers are responding to inflation concerns and economic uncertainty.
Additionally, industrial and manufacturing production data will be released, providing further insights into the health of the U.S. economy amid growing trade tensions.
Market Outlook
The World Trade Organization has warned that current tariffs could cause a 0.2% decline in the volume of world merchandise trade for 2025, with the potential for a 1.5% contraction if conditions worsen.
A survey of global fund managers by Bank of America found that expectations for recession are at the fourth-highest level in the last 20 years, highlighting growing pessimism about economic prospects.
As uncertainty persists, Treasury yields have eased in the bond market, with the yield on the 10-year Treasury falling to 4.28% from 4.35% late Tuesday, indicating that investors are seeking safer assets amid market volatility.