Wall Street Tumbles Amid Tariff Talk and Tech Losses

Wall Street took a significant hit as stocks dropped sharply due to losses in Nvidia and Tesla. Investor anxiety grew over President Trump's upcoming announcement on auto tariffs. Market uncertainty looms as sectors grapple with potential economic implications of new trade policies.

On Wednesday, Wall Street saw a significant decline, largely due to substantial losses in Nvidia and Tesla shares. Investors awaited an announcement from President Donald Trump regarding new U.S. tariffs on automotive imports, intensifying the ongoing global trade tensions.

Financial markets, particularly those related to the auto industry, are uneasy with the looming tariff plans. Industry experts warned that these tariffs could increase car prices and slow down production, exacerbating economic impacts. Meanwhile, both Tesla and General Motors faced lower shares as the market grappled with uncertainty.

The technology sector also struggled, with major chipmakers like Nvidia and Broadcom experiencing steep declines. This market downturn is compounded by a broader sense of pessimism among business executives. Looking ahead, investors will closely monitor economic indicators such as the personal consumption expenditures price index for further signs of market direction.

(With inputs from agencies.)