Major stock markets in the United States closed lower on Wednesday after major tech companies nosedived during the day as investors anticipated US President Donald Trump's announcement of the incoming tariff on vehicle imports, which is set to take effect around April 2.
The Dow Jones Industrial Average slipped by 0.31% at the closing bell, with Nvidia tumbling by 5.97% at 4:00 pm ET, after the reports of the Chinese regulators discouraging the country's companies from using Nvidia's H20 chip due to an alleged breach of energy efficiency regulations. At the same time, the Nasdaq 100 fell by 1.83%, as ARM Holdings declined by 7.52%. Meanwhile, the S&P 500 dropped by 1.12%, with Super Micro Computer plunging by 8.86% at the close.
The euro lost 0.37% against the dollar at 3:59 pm ET, selling for $1.07516.
