The US Federal Reserve chair, Jerome Powell, warned Donald Trump’s tariffs were generating a “challenging scenario” for the central bank and were likely to worsen inflation. Powell’s comments on Wednesday came US stock markets had already been rattled by a new trade restriction on the chip designer Nvidia. The sell-off picked up as Powell spoke to The Economic Club of Chicago. The S&P 500 index dropped by about 2% in afternoon trading, with the tech-heavy Nasdaq index down 3%. The Dow Jones fell 1.4%. “The new administration is in the process of implementing substantial policy changes in four distinct areas:
Better off with Taiwan: Honduras joins other Latin American countries rethinking ties with China
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