Benzingaยท2025-04-17 07:41Market Overview - U.S. stocks experienced a decline, with the Dow Jones index falling approximately 700 points, influenced by Federal Reserve Chair Jerome Powell's comments linking rising tariffs to increased inflation and slower growth [1][4] - The S&P 500 dropped by 2.24% to 5,275.70, while the Nasdaq Composite decreased by 3.07% to 16,307.16 during the session [4] Sector Performance - The semiconductor sector was notably affected by new export restrictions on Nvidia Corp. chips to China, leading to a significant drop in the iShares Semiconductor ETF SOXX, with Nvidia and Advanced Micro Devices Inc. both down around 7% [2] - Most sectors within the S&P 500 closed negatively, particularly consumer discretionary, information technology, and communication services, while energy stocks managed to close higher [4] Economic Data - U.S. industrial production fell by 0.3% in March, slightly worse than market expectations of a 0.2% decline [3] - Retail sales in the U.S. rose by 1.4% month-over-month in March, surpassing the previous month's gain of 0.2% and exceeding estimates of 1.3% [3] Earnings Reports - Investors are anticipating earnings results from Netflix Inc., UnitedHealth Group Incorporated, and D.R. Horton Inc. [5]