European Stocks Flat as Iran Tensions, ECB Rate Hike Loom 
Iran Threatens Gulf Energy Assets as U.S. Tensions Escalate 
US Stock Futures Mixed as Fed Rate Hike Bets Rise 
China Boosts Gold Reserves by 650,000 Ounces as Prices Rally 
Japanese Yen Nears Seven-Month High as Oil Approaches $100 
Iraq Seeks 6 Million Bpd OPEC+ Oil Quota 
Iran Plans New Gulf Restricted Zone as Hormuz Tensions Push Oil Higher 
Gold Prices Rise as Yen Rally Weakens Dollar 
South Korea GDP Surges on Chip and AI Boom 
Gold Prices Rebound as Dollar Weakens, Fed Decision Looms 
Hungary Industrial Output Beats Forecasts With 4.7% July Growth 
US Bans Canadian Alcohol, Motorcycles as Trade War Escalates 
ECB Set for September Rate Hike as Energy Prices Fuel Inflation 
Asian Stocks Mixed as Korean Chipmakers Rally 
China Inflation Accelerates in August as CPI, PPI Rise 
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U.S. stock index futures dropped Tuesday evening, led by steep losses in the tech sector after Nvidia warned of a major earnings impact from new U.S. export restrictions to China. S&P 500 Futures fell 0.8% to 5,384.00, Nasdaq 100 Futures declined 1.3% to 18,718.75, and Dow Jones Futures dropped 0.4% to 40,414.00.
Nvidia (NASDAQ:NVDA) tumbled 6% in after-hours trading after revealing it would take a $5.5 billion charge due to tighter U.S. government curbs. The company now needs a license to export its popular H20 AI chips to China, triggering a broad sell-off in semiconductor and AI stocks. AMD (NASDAQ:AMD) plunged nearly 7%, while Intel (NASDAQ:INTC) and Broadcom (NASDAQ:AVGO) lost 1.9% and 3.4%, respectively. TSMC (NYSE:TSM), a key Nvidia supplier, dropped 2%.
The broader tech sector also took a hit, with Apple (NASDAQ:AAPL) and Tesla (NASDAQ:TSLA) shedding over 1% each. Investors remain cautious over potential supply chain disruptions from escalating U.S.-China trade tensions, which are seen as a threat to global tech firms.
Wall Street ended Tuesday slightly lower as uncertainty surrounding former President Donald Trump's tariff plans, especially on electronics and pharmaceuticals, kept markets jittery. The S&P 500 closed down 0.2% at 5,396.60, the Nasdaq dipped to 16,823.17, and the Dow fell 0.4% to 40,368.96.
Investors are now eyeing upcoming earnings from ASML (AS:ASML), Abbott Laboratories (NYSE:ABT), and Progressive Corp (NYSE:PGR), as well as key U.S. economic data, including retail sales and industrial production. Federal Reserve Chair Jerome Powell is also scheduled to speak, potentially offering further clues on monetary policy.
