Wall Street retreats on Nvidia sell-off, Dow Jones drops 46 points
NEW YORK, New York - A downturn in Nvidia, and a continuation of Tuesday's sell-off following Fed Chairman Jerome Powell's gloomy outlook on inflation, and the need for interest rates to stay high for longer, put pressure on U.S. stock markets Wednesday.
Investors are "trimming some of the high fliers," Kevin Gordon, senior investment strategist at Charles Schwab told CNBC Wednesday. "I think investors are really