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🚨 Markets Smoked as Powell Warns of Tariff Turmoil

🚨 Markets Smoked as Powell Warns of Tariff Turmoil

πŸŒ‹ Nasdaq tanks 3% | Powell hits pause | Nvidia nuked on chip curbs

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Ben The Bull
Apr 16, 2025
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T&G’s Substack
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🚨 Markets Smoked as Powell Warns of Tariff Turmoil
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πŸ“Š Market Snapshot

S&P 500: πŸ”Ή -2.24%
Dow Jones: πŸ”Ή -1.73%
Nasdaq: πŸ”Ή -3.07%
Gold: πŸ”₯ Hits record high at $3,334/oz
10Y Treasury Yield: πŸ”Ή Falls below 4.36%

πŸ”₯ What Just Happened?

It was a bloodbath on Wall Street today.

πŸŒ€ Fed Chair Jerome Powell delivered a brutal reality check during a speech in Chicago, warning that Trump’s tariffs could drive "higher inflation and slower growth" β€” and maybe even stall the economy entirely.

πŸ¦‰ Nvidia dropped 7% after revealing $5.5B in losses from new chip export restrictions to China. AMD said it could face an $800M hit too.

πŸš‘ The tech sector got smoked. Nasdaq posted its worst day since October 2022.

"We may find ourselves in the challenging scenario in which our dual-mandate goals are in tension," Powell said.

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