Australia Unemployment Hits Five-Year High Despite Strong Jobs Growth 
Fed’s Hammack Says Bond Yield Surge Is Not Driven by Inflation Fears 
Gold Prices Fall as Treasury Yields Rise on Fed Rate Hike Bets 
Mexico-US Trade Talks Delayed to October as Tariff Negotiations Continue 
Oil Prices Jump 3% as Houthi Attack Revives Supply Fears 
Asian Stocks Fall as Surging Bond Yields Rattle Markets 
European Stocks Fall as Bond Yields and Geopolitical Risks Weigh 
Gold Holds Near $4,275 as Rising Treasury Yields Fuel Fed Rate Hike Bets 
U.S. Dollar Hits Two-Month High as Oil, Treasury Yields Surge 
US Stock Futures Fall as Treasury Yields Surge Ahead of Trump-Xi Summit 
Japanese Bank Stocks Surge as Bond Yields Fuel Rate Hike Bets 
Soybean Futures Slip as Traders Await Trump-Xi Trade Signals 
U.S. Treasury Yields Surge as 30-Year Hits 22-Year High 
Canadian Dollar Faces Pressure as Fed-BoC Policy Gap Widens 
Oil Prices Fall on U.S.-Iran Hormuz Deal Hopes 
Dollar Holds Near Two-Month High as Yen Approaches 160 
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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.
