Fed chair says Trump tariffs could make inflation worse as US stocks slide further

Value of Nvidia dropped by billions on Wednesday after president imposed new restrictions on the chip giant

The US Federal Reserve chair, Jerome Powell, warned Donald Trump's tariffs were generating a challenging scenario" for the central bank and were likely to worsen inflation.

Powell's comments on Wednesday came US stock markets had already been rattled by a new trade restriction on the chip designer Nvidia. The sell-off picked up as Powell spoke to The Economic Club of Chicago.