Major stock markets in the US experienced a sharp decline this week, with tech stocks taking the brunt of the losses. Nvidia, a leading player in the AI chip market, faces significant revenue losses due to new export restrictions imposed by the U.S. on its technology exports to China. 4.20%, and the S&P 500 dropped 125.78 points or 2.33%. The decline was triggered by escalating trade tensions and a growing sense of recession among investors as indicated by a recent Bank of America survey with a net 42% expecting a global recession, one of the highest readings in over two decades. 61% believe the U.S. dollar will depreciate in the next year, fueling demand for safe haven assets like gold.