Stocks Sink As Trump Halts China Chip Sales

Dow closes more than 200 points lower Wednesday ahead of Nvidia earnings (CNBC)

Trump orders US chip designers to stop selling to China ⁠(FT)⁠

Fed worried it could face ‘difficult tradeoffs’ if tariffs reaggravate inflation, minutes show (CNBC)

Asia’s $7.5 Trillion Bet on US Assets Is Suddenly Unravelling (Bloomberg)

Japan Bonds Draw Weak Demand as Rise in Superlong Yields Sparks Concern (⁠WSJ⁠)

Trump Bristles at ‘TACO Trade’ That Bets On Him Backing Down (Bloomberg)

Musk Says He’s ‘Disappointed’ That Trump Tax Bill Raises Deficit (Bloomberg)

GM Invests in V-8 Engines as It Backpedals on EVs (⁠⁠WSJ⁠⁠)

Luxury Brands Are Paying for Over-the-Top Price Hikes (⁠WSJ⁠

Dick’s Sporting Goods stands by full-year guidance - even with tariff looming (CNBC)

Macy’s cuts profit outlook as tariffs, promotions hit its business (CNBC)

Abercrombie & Fitch soars more than 15% even as retailer slashes profit outlook due to tariffs (CNBC)