Fed Chair Warns of Difficult Choices as Trade War Rages

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  U.S.

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  tech stocks fall as Nvidia pays the price for turning into the biggest marketing chip between the U.S.

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  and China.

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  Plus, Jerome Powell is warning that the Fed may find itself in a tough spot,

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  choosing between whether to focus on inflation or fostering a healthy labor market.

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  We may find ourselves in the challenging scenario in which our dual mandate goals are in tension.

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  And how funding cuts at Harvard are already affecting the university's research.

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  It's Wednesday, April 16th.

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  I'm Alex O'Sulliv for The Wall Street Journal.

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  This is the PM edition of What's News, the top headlines and business stories that move the world today.

• 00:46

  Trade restrictions fueled a tech stock route that deepened in U.S.

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  markets today.

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  Stocks took another turn lower after Federal Reserve chair Jerome Powell warned

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  that the central bank could face difficult trade-offs in trying to cushion the U.S.

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  economy from the fallout of President Trump's trade war.

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  Wall Street's fear gauge, the Sebo Volatility Index, jumped nearly 9% after falling for three trading days.

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  The dollar, meanwhile, extended its decline.

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  Earlier,

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  the Commerce Department had said that retail sales rose a better than expected 1.4% in March from the previous month.

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  And before President Trump's Liberation Day announcement of sweeping new tariffs on April 2nd.

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