FX.co ★ US Futures Point to Lower Open, Nvidia Sinks

On Wednesday, U.S. stock futures experienced declines as tensions surrounding trade continued to escalate, raising investor concerns over their potential ramifications on corporate earnings and business activities. Specifically, S&P 500 futures fell by 0.8%, Nasdaq 100 futures saw a 1.4% drop, and Dow Jones futures remained relatively stable. Nvidia's stock decreased by over 7% in premarket trading following the company's announcement that the U.S. government had restricted sales of specific AI chips to China without a license. Subsequently, Nvidia anticipates a $5.5 billion reduction in revenue this quarter. On the economic data front, retail sales increased by 1.4% in March compared to the previous month, surpassing market predictions of a 1.3% rise and representing the most significant growth since January 2023. Additionally, market participants will be paying close attention to Federal Reserve Chair Jerome Powell's upcoming speech at the Economic Club of Chicago.