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U.S. Stocks Slide Amid Tech Earnings Jitters and Tariff Tensions
U.S. Stocks Slide Amid Tech Earnings Jitters and Tariff Tensions
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U.S. equities faced broad declines as investors weighed concerns over tech earnings against escalating trade tensions. The Dow Jones Industrial Average dropped 0.51% to 39,907.54, while the S&P 500 fell 0.90% to 5,474.25. The Nasdaq Composite bore the brunt of the selloff, tumbling 1.31% to 17,155.70 as chip stocks led losses.
Nvidia shares plunged 4.18% following Huawei’s launch of its Ascend 910D AI chip, a direct challenge to Nvidia’s H100 processor. The Chinese firm’s move comes as U.S. export restrictions create opportunities for domestic alternatives in China’s semiconductor market.
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