US stocks have led global markets lower this afternoon, thanks to new tariff headlines and restrictions in China designed to hit Nvidia, says Chris Beauchamp, Chief Market Analyst at online trading platform IG.
US stocks stumble in early trading
The more positive tone for US markets was not likely to last, and tariff reports and chip worries have driven Wall Street firmly into the red. Measures in China designed to improve energy efficiency for data centres seem squarely aimed at Nvidia, and the news has dragged the stock, and tech stocks generally, sharply lower. It has lost its most-valuable company crown to Microsoft, continuing the pain for shareholders.
Car tariff threat hits markets
Meanwhile, tariffs seem back on the agenda again as the Trump administration looks to put the Atlantic leak debacle behind it. Levies on car imports seem primed to hit Europe hard, putting the Dax, Dow and S&P 500 firmly on the back foot. Investors remain very concerned that US stocks are due another leg down, one that is likely to drag the rest of the world with it.
