![]() Shares of both fell around 3% in premarket trading.īank stocks are little changed as investors await the Fed's assessment of how much capital banks would need to withstand a severe economic downturn. Semiconductors came under pressure after The Wall Street Journal reported that the Biden Administration is considering new restrictions on exports of artificial intelligence (AI) chips to China, a move that could potentially hurt companies like Nvidia (NVDA) and Advanced Micro Devices (AMD). At the same time, the financials sector braces for results of Federal Reserve "stress tests" later this afternoon, and Fed Chairman Jerome Powell speaks on a panel this morning. Stocks lost ground early Wednesday following a report that the United States is considering more curbs on chip exports to China.
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