Newscasts - US stocks end lower, focus now on Nvidia results
28/05/2025 23:47
Click the following link to watch video: https://share.newscasts.refinitiv.com/link?entryId=1_7vjb7a6x&referenceId=tag:reuters.com,2025:newsml_RW765828052025RP1_930&pageId=Newscasts Source: 'Reuters - Business videos' Description: U.S. stock indexes fell Wednesday afternoon as investors digested minutes from the last Federal Reserve meeting and awaited results from AI bellwether Nvidia. Alex Cohen has more. Short Link: https://refini.tv/4dWm1up Video Transcript: US stocks finished lower Wednesday with the Dow, S&P 500, and NASDAQ all losing about 0.5% each. Shares of chipmakers, including Cadence Design Systems and Synopsys fell in late trading. The Financial Times reported that the Trump Administration has ordered US firms that offer software used to design semiconductors to stop selling their services to Chinese groups. Other chip companies are dealing with US government controls on their work too. NVIDIA said after the market closed that it expects an $8 billion hit to sales from tighter US curbs on exports of its AI chips to China, a key semiconductor market. NVIDIA did beat quarterly sales expectations and its shares, which closed down 0.5% in regular trading, were up afterhours. Rob Haworth, Senior Investment Strategy Director with US Bank Asset Management Group, says NVIDIA's results are hugely important for the market. NVIDIA's significance to the market is still fairly large. They're no longer the largest company in the S&P 500, but they really sit at the center of artificial intelligence, demand and supply at this point, and I think that's going to have a significant impact on the companies around it, right, the ecosystem around it. Particularly, it will tell us a lot about how other companies are doing. Meanwhile, investors also assess the minutes of the Federal Reserve's May meeting. US central bank officials acknowledged they could face difficult trade-offs in coming months in the form of rising inflation alongside rising unemployment.