Nvidia, AMD see charges due to new China export rules: Morning Buzz

The major averages were broadly lower near noon, with the Nasdaq down over 300 points amid escalating trade tensions and new export restrictions.​ This follows the U.S. government’s decision to tighten export controls on advanced AI-related computer chips.​ The recent U.S. actions have intensified concerns over a potential trade war. President Donald Trump has announced a new investigation into critical mineral imports and imposed steep tariffs on Chinese imports. In retaliation, China has increased duties on U.S. goods, further straining international trade relations. ​International markets have mirrored such concerns.

Looking to commodities, gold prices have continued their surge to record highs, crossing the $3,300 threshold. Meanwhile, oil prices have also risen sharply amid continued market volatility.

In addition, Federal Reserve Chair Jerome Powell is scheduled to speak on the economic outlook, which may provide further insights into the central bank’s policy direction amid the current market turbulence.​

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.

1. STOCK NEWS:

2. WALL STREET CALLS:

• Target (TGT) downgraded at Goldman Sachs, here’s why

• Lockheed Martin (LMT) upgraded to Overweight at Morgan Stanley

• General Dynamics (GD) downgraded to Equal Weight at Morgan Stanley

• Oppenheimer bullish on Reddit (RDDT), initiates at Outperform

• Mizuho upgraded Cloudflare (NET) to Outperform

3. AROUND THE WEB:

• KKR (KKR) is weighing options for Atlantic Aviation, including a potential sale that could value the private jet fixed base operator at about $10B, Bloomberg says

• Google (GOOGL) is facing a class action lawsuit in the U.K. seeking GBP 5B in potential damages over allegations the company abused its “near-total dominance” in the online search market to drive up prices, CNBC reports

• TSMC (TSM) is set to implement a 30% price increase on its 4nm chip production in the U.S. amid an imbalance in supply and demand figures, DigiTimes reports

• The Italian government is set to request conditions including constraints on UniCredit’s (UNCRY) Russia business before approving its takeover bid of Banco BPM (BNCZF), Bloomberg says

• Russia has asked the U.S. to allow it buy Boeing (BA) aircraft using money from billions of dollars in frozen state assets once there’s a ceasefire in Ukraine, Bloomberg reports