Asian Shares Drop Amid Nvidia Export Curbs, Gold Hits Record High

Asian shares fell on Wednesday, primarily driven by Nvidia's significant stock drop following new U.S. export restrictions on its H20 AI chips to China. This move is anticipated to have severe repercussions for the semiconductor industry and further strain U.S.-China trade relations, with Nvidia facing $5.5 billion in charges. China's economy showed growth of 5.4% in the first quarter, surpassing expectations, but ongoing trade tensions with the U.S. cloud the outlook. President Trump has also initiated investigations into potential tariffs on critical minerals and other imports, exacerbating market uncertainty. Futures for the S&P 500 and Nasdaq fell in response to the news, reflecting investor anxiety about the implications of these restrictions. Analysts warn that these developments could permanently alter the tech landscape and affect China's ambitions in the global market.