U.S. stocks experienced a significant downturn on Wednesday as Nvidia announced hefty charges related to export restrictions imposed by the U.S. government on Chinese technology. Fed Chair Jerome Powell further added fuel to the fire by warning that tariffs could exacerbate inflation and slow economic growth. The S&P 500, Dow Jones Industrial Average, and Nasdaq Composite all declined sharply, with tech stocks being particularly hit, leading a bear market potential. Nvidia shares plummeted nearly 10% following a $5.5 billion charge linked to the restrictions on its H20 graphics processors, which are heavily utilized in China. Other chipmakers like AMD, Micron, and ASML also witnessed significant declines, highlighting concerns about the impact of trade tensions.