Nasdaq drops 2%, S&P 1% at open; Nvidia down 6% after new US chip export curbs

Wall Street fell on Wednesday, with the Nasdaq leading declines after Nvidia flagged steep charges from new U.S. controls on chip exports to China, the latest flashpoint in an escalating global trade war.

Shares of Nvidia dropped 6.5%.

The Dow Jones Industrial Average fell 189.5 points, or 0.47%, at the open to 40,179.49. The S&P 500 fell 60.9 points, or 1.13%, at the open to 5,335.75, while the Nasdaq Composite dropped 323.5 points, or 1.92%, to 16,499.693 at the opening bell.