U.S. Stocks Plummet, Tech Giants and Nvidia Take a Nosedive!

Holy smokes! U.S. stocks are crashing down, and tech stocks are feeling the burn the most. Nvidia's staring down the barrel of a whopping $5.5 billion revenue loss thanks to those export restrictions on China. Can you believe it?

After a week of playing it cool with low volatility, U.S. stocks are back to tumbling like a house of cards. Tech stocks and Nvidia are leading the charge into the red. On Wednesday, April 16, the Nasdaq was trading at 16,216.68, down a brutal 606.49 points or a gut-wrenching 3.61%.

But hold up, the rest of the market isn't getting off easy either. Investors are turning as bearish as a grizzly in hibernation, spooked by fears of a trade war. The Dow Jones took a 613-point hit, down 1.55%, trading at 39,742.32. Meanwhile, the S&P 500 wasn't spared either, dropping 125.78 points or 2.33%.

And if that's not enough to make your heart race, the latest Bank of America survey is sounding the alarm on recession fears. A net 42% of investors are bracing for a global recession, marking the fourth highest level of worry in the last two decades. Yikes!

Investors are also ditching the U.S. dollar faster than you can say "bull market," with nearly 61% betting it'll tank in the next 12 months. But hey, it's not all doom and gloom—safe haven assets like gold are shining brighter than ever.

Even Bitcoin (BTC) couldn't escape the market madness, hitting a daily low of $83,100 before bouncing back to $84,233. Despite its wild swings, Bitcoin's holding up better than the U.S. market. Go figure!

Nvidia leads market declines

Nvidia's at the front of the pack, tumbling 8.49% to $102 after predicting a massive revenue hit. They're saying Washington's new restrictions on AI chip exports to China are going to cost them a staggering $5.5 billion in expected revenue for the first quarter of 2025. Ouch!

The company got word from the U.S. government that they need an export license to sell their H20 chips to China. These bad boys are used to train AI models like OpenAI's ChatGPT. Washington's worried about China using these chips to train their own AI models, like DeepSeek's. It's like a high-stakes game of chess, and Nvidia's feeling the pressure.

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