Separate warnings by the chipmaking giant and the chairman of the Federal Reserve about the impact of White House policies contributed to another sell-off on Wall Street.

U.S. stocks fell Wednesday after Nvidia warned new restrictions on exports to China will chisel billions of dollars off its results, while companies around the world said President Donald Trump's trade war is clouding forecasts for how they and the economy will do this year.

U.S. stocks tumbled Wednesday as Federal Reserve Chair Jerome Powell dashed hopes of imminent interest rate cuts and a tech-led selloff, driven by Nvidia, rattled markets. The SP 500 dropped 2.2%, the Nasdaq plunged 3.