LIVE MARKETS-US stocks fall in early trade as tech weighs

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U.S. STOCKS FALL IN EARLY TRADE AS TECH WEIGHS

U.S. stocks are lower in the early stages of trading, with the Nasdaq .IXIC tumbling more than 2% as a tumble of more than 6% in Nvidia NVDA.O weighed heavily.

Tech .SPLRCT, and more specifically, semiconductors .SOX are under pressure, falling roughly 3% and 4%, respectively as Nvidia said late Tuesday it would take $5.5 billion in charges after the U.S. government limited exports of its H20 artificial intelligence chip to China.

Adding to pressure on semis, ASML ASML.AS, the world's biggest supplier of computer chip-making equipment, said tariffs were increasing uncertainty around its outlook for 2025 and 2026.

Economic data earlier in the day showed tariffs were likely influencing consumer behavior, as U.S. retail sales increased by the most in more than two years in March as households stepped up purchases of motor vehicles and a range of other goods to avoid higher prices.

Investors were also awaiting comments from Fed Chair Jerome Powell later in the day, who will speak for the second time in less than two weeks.

Below is your market snapshot:

(Chuck Mikolajczak)

FOR WEDNESDAY'S EARLIER LIVE MARKETS POSTS:

NASDAQ COMPOSITE POISED TO BE CHIPPED AT THE OPEN - CLICK HERE

LOOKING TO WEATHER A RECESSION? CONSIDER TOWERS - CLICK HERE

WATCHING THE NEGOTIATIONS - CLICK HERE

WHAT ARE EUROPEAN STOCKS PRICING IN? - CLICK HERE

TECH SECTOR PULLS STOXX 600 LOWER - CLICK HERE

EUROPE BEFORE THE BELL: FUTURES FALL AS TRADE TENSIONS TAKE ANOTHER TURN - CLICK HERE

MARKETS WOBBLE OVER US-CHINA WRANGLING - CLICK HERE