At the end of Tuesday, the stock and cryptocurrency markets faced significant declines due to Nvidia’s negative performance. Nvidia’s shares dropped by 8% to $89.10 after announcing a $5.5 billion cost in the first quarter, impacted by the ban on selling H20 chips to China. This ban is a result of Trump’s restrictive export policies to China. The severe drop in Nvidia’s shares directly affected the cryptocurrency market, causing a decline in digital assets’ prices. Bitcoin (BTC) retreated from its two-week high of $86,440 to $83,480. Ripple (XRP) also dropped by over 3% to $2.07. Cardano (ADA) decreased by about 6% and is currently trading around $0.61. AI-related cryptocurrencies also showed weaker performance as Nvidia is a key player in this sector. Nasdaq futures contracts dropped by over 1%, signaling negativity for high-risk assets. Meanwhile, the US retail sales report for March is expected to show a 1.2% increase in consumer spending, compared to just 0.2% in February. Investors are closely monitoring this report for insights into potential economic recession. However, some analysts warn that the report may be backward-looking and not account for recent trade tensions. Federal Reserve Chair Jerome Powell will also deliver a speech on the US economic outlook on the same day. Investors are eager to see if the Fed may act sooner than expected to lower interest rates in response to trade tensions and recession risks. Check the real-time prices of all tokens and cryptocurrencies on the Momentary Currency Prices page.
