The stock opened less on Wednesday and stayed there closely. A strong march retail sales report could not calm the skills of investors and quick sales after the Federal Reserve President Geom Powell said that the central bank does not make any haste to cut rates.
In front of the opening bell, census Bureau Said that retail sales increased in the month of 1.4% in the month – a notable leap from 0.2% increase in February and the biggest monthly advantage since January 2023.
Impressive growth was inspired by an increase of 5.3% month-month in sales of cars and auto parts. Except for them, retail sales were 0.5%.
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While today’s solid retail sales report will generally “be a good thing for markets, it is very possible that consumers are loading their purchases and we are looking at an artificial competition in sales,” Chris zekereliChief Investment Officer for Northlight Asset Management.
The purchase front-loading came under the leadership of President Donald Trump’s liberation day, where he announced an anti-counter tariff, and spark A historical stock market cell-offMost of these tariffs have stopped since then, but only temporarily.
Zaccarelli notes that “uncertainty on tariff policy can cause more damage than any policies” which the Trump administration can eventually apply.
Pavel cut rate in speech today
The Trump administration for tariffs is not keeping the fed chair Powell up at night.
In a Quality session at Chicago’s Economic Club this afternoon, Powell said that “the markets are doing what they are going to do,” and if the stock market declines, the fed will not interfere.
Powell also stated that while the economy is “far” from the dual mandate of the central bank for price stability and complete employment, the Fed current is “well deployed to wait for more clarity” before changing the current monetary policy “. In other words, it is not in the hurry to cut Interest rates Prior to time.
It was certainly not what market participants wanted to hear. Close, blue chip Dow jones industrial average At 39,669 was 1.7% below, broader S&P 500 2.2% to 5,275, and Tech-Havi Nasdac Composite At 16,307 was 3.1% less.
Nvidia tech stock is low
All of all but 11 S&P 500 areas have ended today less – being energy being external.
And Tech stock Artificial Intelligence (AI) Bore of sale after chipmekar Nvidia (NVDA) said late Tuesday night that it would charge a fee of $ 5.5 billion in its first quarter results.
The US government then told the chipmaker that it would need a new license to export its H20 processor to China and other countries.
CFRA Research Analyst says, “While NVDA has historically adapted to export control by developing China-specific products, we guess that it is connected to China’s server from about 8% to 10% of the revenue of the development company.” Angelo Zeno,
Nvidia stock fell 6.9% today, the market price lost $ 188 billion. For reference, this is the full market cap of blue chip stock Verizon Communications (VZ, -1.9%).
Fellow chip stock Advanced micro equipment (AMD, -7.4%) and Broadcom (AVGO, -2.4%) also sold.
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