US Considers Ban on AI Chip Exports to China, Dow Jones and Tech Stocks Slide

The Dow Jones Industrial Average fell ahead of a discussion including Fed Chair Jerome Powell at a European Central Bank forum, while chip stocks Advanced Micro Devices and Nvidia sold off on news of potential restrictions on exports of AI chips to China. Investors are anticipating a rate hike in the upcoming July meeting, and key earnings movers include AeroVironment, General Mills, and Jefferies. The stock market opened mixed, with tech giants Apple and Microsoft showing mixed performance. Oil prices rebounded slightly, and the 10-year U.S. Treasury yield ticked lower. Dow Jones stocks JPMorgan Chase, Merck, and Salesforce are among the best stocks to watch, along with Chipotle Mexican Grill, McKesson, MongoDB, and Lam Research. Tesla stock rebounded, while Apple and Microsoft stocks reached record highs.