US stock markets experienced significant declines today, with the Dow Jones falling nearly 700 points and both the S&P 500 and Nasdaq also facing steep losses. The downturn follows comments from Federal Reserve Chairman Jerome Powell, who expressed concerns about the economic impact of tariffs and slowing growth. Nvidia, a key player in the tech sector, saw its stock tumble, contributing to the overall market decline. The ongoing trade tensions and restrictions on chip sales to China have further exacerbated the situation, causing widespread concerns among investors. As a result, gold prices surged to record highs, highlighting the growing uncertainty in the market.