The Dow fell 699.57 points, or 1.73%, to 39,669.39, the S&P 500 lost 120.93 points, or 2.24%, to 5,275.70 and the Nasdaq lost 516.01 points, or 3.07%, to 16,307.16.
NEW YORK: US stocks ended sharply lower on Wednesday as Nvidia warned about steep charges from new US curbs on its chip exports to China and Federal Reserve chair Jerome Powell said US economic growth appears to be slowing.
Powell, in remarks for the Economic Club of Chicago, said larger-than-expected tariffs likely mean higher inflation and slower growth. But he said the Fed would wait for more data on the economy's direction before making any changes to interest rates.
