US equities finished sharply lower in Wednesday trading, ending a bit off worst levels, with the Dow Jones the S&P 500 and the Nasdaq falling 173bps, 224bps, and 307bps respectively. Nvidia was the biggest drag after yesterday's announcement of new US government export restrictions on their H20 chips. Also some hawkish takes on Fed Chair Powell's remarks today who noted tariff increases are significantly larger than anticipated, which could lead to higher inflation and slower growth. March headline retail sales, sales ex-autos, and sales ex-autos and gas all came in a bit better than expected. April NAHB housing market index beat, but sales expectations lowest since Jan-23.