Stock markets faced significant declines as concerns over tariffs and export restrictions continue to press on major tech stocks. Nvidia, a key player in the semiconductor sector, saw its shares plummet, contributing to the overall downward trend. Federal Reserve Chair Jerome Powell warned about the potential impact of tariffs on economic growth, fueling fears of a trade war led by previous administration policies. The Dow Jones dropped nearly 700 points, while the Nasdaq fell over 3%. As the market grapples with uncertainty and tightening curbs on chip exports, analysts predict challenging times ahead for tech companies.