Nvidia warned that the trade war between the US and China will lead to the company's profit decreasing by 5.5 billion dollars during the first quarter of the year. The stock plummeted 6.9 percent.
The downturn on Wall Street worsened after central bank chief Jerome Powell said in a speech that the trade war may fuel inflation and reduce overall economic activity.
United Airlines closed unchanged, despite the airline's profit last quarter being higher than analysts had predicted. In its report, United Airlines included two different forecasts for the year's results, citing uncertainty in the economy due to the increased tariffs.
