Chip stocks fall as Nvidia, AMD warn of higher costs from China export controls

Technology stocks declined Wednesday, led by a 6% drop in Nvidia, as the chipmaking sector signaled that President Donald Trump's sweeping tariff plans could hamper demand and growth.

Nvidia revealed in a filing Tuesday that it will take a $5.5 billion charge tied to exporting its H20 graphics processing units to China and other countries and said that the government will require a license to ship the chips there and other destinations.