Sharp fall in US stocks amid caution over impact of tariffs

US stocks fell sharply last night, hit by a double blow from Nvidia’s China-related warning and Federal Reserve Chair Jerome Powell’s caution over the economic impact of tariffs. The Nasdaq Composite sank 3.07 per cent, edging closer to bear market territory.

The S&P 500 slid 2.24 percent, weighed down by losses in the tech sector while the Dow Jones Industrial Average dropped nearly 1.7 per cen