The Rundown China Warns Tech Giants Against Using Nvidia Chips, Musk Threatens to Sue Apple
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Aug 12, 2025 The latest inflation report stirs conversations about economic implications, especially with a core CPI rise. Trade tensions escalate as China warns tech giants over NVIDIA chips. Amidst this, Elon Musk accuses Apple of antitrust practices, hinting at a potential lawsuit. The stock market reflects these tech controversies, showcasing notable gains and losses. Archer Aviation's disappointing earnings add a twist, while recession fears seem to fade among S&P 500 companies.
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Inflation Holds Steady For Now
- July CPI was 2.7% YoY and core CPI rose to 3.1%, the highest since February.
- Tariffs haven't yet produced large price increases but effects may show up later.
Tariff Truce Extended To Mid-November
- Trump extended the China tariff truce for another 90 days, keeping reduced rates in place until mid-November.
- Markets largely shrugged since most participants expected the extension and tariff watch continues.
China Pushes Back On Nvidia Chips
- Chinese regulators told local tech firms to suspend purchases of NVIDIA's H20 chips pending a security probe.
- That political pressure undermines Nvidia's China comeback even after US export approval tied to revenue sharing.