Energy Markets
Nvidia shares fall as US chip sales curbs hurt the company. Gold hits record levels
Asian and European stocks fell along with U.S. futures on Wednesday as AI darling Nvidia was hit by U.S. restrictions against chip sales to China in the midst of the intensifying trade war. Gold rose to a new record, and the dollar declined. Treasury yields fell slightly before a speech by Federal Reserve chair Jerome Powell, scheduled for later that day. The traders are wondering if Powell will echo the tone of his Fed Governor Christopher Waller. Washington has issued overnight new export licensing requirements to China for Nvidia’s H20 artificial intelligence chip and AMD’s MI308 artificial intelligent chip. Nvidia...