🚨 Markets Smoked as Powell Warns of Tariff Turmoil

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

📊 Market Snapshot

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

🔥 What Just Happened?

It was a bloodbath on Wall Street today.

🌀 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" — and maybe even stall the economy entirely.

🦉 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.

🚑 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.