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Powell Warns of Inflation as Dow Plummets 700 Points

4/16/2025

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Summary

Story summary

Federal Reserve Chair Jerome Powell sounded the alarm over President Trump's rising tariffs, predicting they could spark soaring inflation and sluggish growth. The market reacted sharply, with the Dow plummeting 700 points on Wednesday. Adding to the turmoil, Nvidia revealed a staggering $5.5 billion loss from new export restrictions, deepening fears across Wall Street.

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Story summary

Federal Reserve Chair Jerome Powell sounded the alarm over President Trump's rising tariffs, predicting they could spark soaring inflation and sluggish growth. The market reacted sharply, with the Dow plummeting 700 points on Wednesday. Adding to the turmoil, Nvidia revealed a staggering $5.5 billion loss from new export restrictions, deepening fears across Wall Street.