On Wednesday, April 16, U.S. markets closed lower after Nvidia warned of $5.5 billion in charges from new U.S. export curbs to China. Federal Reserve Chair Jerome Powell pointed to slowing economic growth and rising inflation risks due to tariffs, further weighing on investor sentiment amid ongoing U.S.-China trade tensions.

According to economic data, U.S. industrial production declined by 0.3% in March, slightly worse than the expected drop of 0.2%. However, retail sales rose 1.4% month-over-month, surpassing the previous month’s 0.2% increase and the forecasted 1.3% gain.

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Most S&P 500 sectors closed lower, with consumer discretionary, information technology, and communication services leading the losses, while energy stocks bucked the trend and finished higher.

The Dow Jones Industrial Average declined 1.73% to 39,669.39, the S&P 500 fell 2.24% to 5,275.70, and the Nasdaq Composite slid 3.07% to close at 16,307.16.

Asia Markets Today

Eurozone at 05:45 AM ET

• The European STOXX 50 was down 0.749%.
• Germany’s DAX declined 0.31%.
• France’s CAC 40 fell 0.52%.
• U.K.’s FTSE 100 index traded lower by 0.70%.

Commodities at 05:45 AM ET

U.S. Futures at 05:45 AM ET

Dow futures were up 0.89%, S&P 500 futures gained 0.95%, and Nasdaq 100 futures rose 1.04%.

Forex at 05:45 AM ET

• The U.S. dollar index gained 0.23% to 99.50, the USD/JPY rose 0.56% to 142.71, and the USD/AUD rose 0.26% to 1.5737.
• The U.S. dollar edged higher Thursday, supported by hawkish comments from Federal Reserve Chairman Jerome Powell. Powell noted the slowing U.S. economic growth and inflation risks due to tariffs but emphasized the Fed’s cautious stance, leading to a slight bounce in the greenback.

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