Global equity markets generally declined on Wednesday, as Nvidia and other technology sector entities experienced significant repercussions from more stringent U.S. export regulations concerning sophisticated computer chips critical for artificial intelligence applications.

The trajectory of the S&P 500 futures took a precipitous 1.2% downturn, juxtaposed with a commensurate 0.6% depreciation in the futures linked to the Dow Jones Industrial Average.

Following the announcement that the United States had implemented more stringent export regulations on one of its computer chips engineered for artificial intelligence applications, shares in the chip manufacturer Nvidia plummeted by 6.3% during after-hours trading; concurrently, shares of its competitor, AMD, experienced a 7.1% decline subsequent to the closure of US markets.

The Trump administration's pronouncement of an inquiry into critical mineral imports, such as rare earths, integral to ubiquitous products like smartphones and electric vehicles, reignited anxieties regarding trade conflict.

During early European trading, the United Kingdom's benchmark FTSE 100 index experienced a marginal decline, depreciating by 0.2% to settle at 8,233.10, following the government's announcement that the nation's inflationary pressures had abated for the second consecutive month in March, a development primarily attributable to the downward trajectory of gas prices.

The DAX in Germany posted a 0.7% decline, closing at 21,107.68, concurrently with the CAC 40 in Paris shedding 0.6% to settle at 7,289.67.

Chinese equities spearheaded regional downturns subsequent to Beijing's disclosure of the world's second-largest economy's robust 5.4% annualized expansion in the preceding quarter, buttressed by formidable industrial output, retail expenditures, and outbound trade. However, on a quarter-on-quarter basis, growth decelerated to 1.2% in the January-March period, a notable decrease from the 1.6% registered in the terminal quarter of 2024.

Hong Kong's Hang Seng index suffered a significant downturn, plummeting by 2% to close at 20,922.54, conversely, the Shanghai Composite index managed a slight rebound, clawing back prior losses to inch up by a mere 0.1%, ending the trading day at 3,271.19.

Private sector economists have been compelled to attenuate their prognostications in the wake of President Donald Trump's recent imposition of tariffs, escalating the duty on most imports from China to an unprecedented 145%, a move reciprocated by China's countervailing increment of its levies on imports from the U.S. to 125%.

As posited by analysts at ANZ Research, economic activity within the current fiscal quarter is undergoing a discernible abatement.

The ANZ researchers, led by Raymond Yeung, posited in their post-China data release report that the tariff shock stemmed not from the tariff qua tariff, but from the attendant unpredictability, which, they asserted, had materially impacted business sentiment and activity following President Trump's pronouncements.

Tokyo's Nikkei 225 index experienced a notable decline, ceding 1% to settle at 33,920.40, a downturn largely attributable to the retreat of bellwether technology firms such as Advantest, a prominent producer of chip testing apparatus, whose equities depreciated by 6.6%, and Disco Corp., which saw its stock plummet by 8%.

In a parallel movement across Asian markets, South Korea's Kospi index posted a significant decline, retracting by 1.2% to settle at 2,447.43, whilst Australia's S&P/ASX 200 registered a marginal decrease, paring back less than 0.1% to close at 7,758.90.

India's Sensex remained largely static, whereas Bangkok's SET experienced a fractional decline of 0.1%.

On Tuesday, the U.S. equity markets exhibited a languid trajectory, with the S&P 500 index registering a modest decrement of 0.2% and the Dow Jones Industrial Average experiencing a diminution of 0.4%, whilst the Nasdaq composite evinced a marginal retrogression of less than 0.1%.

The pervasive ambiguity surrounding President Donald Trump's tariff impositions engendered a state of heightened vigilance among investors, who remained acutely attuned to prospective developments.

The U.S. Treasury market appeared to stabilise after last week's abrupt and pronounced gyrations undermined confidence in the standing of sovereign debt as a bulwark against systemic risks.

The bellwether 10-year Treasury yield remained anchored at 4.33%, a discernible retreat from the 4.38% registered late Monday and the 4.48% posted at the close of the preceding week. This stands in stark contrast to the meagre 4.01% noted a mere seven days prior. Considering that yields typically recede amidst investor unease, the trajectory observed this week could be construed as an incipient indicator of burgeoning confidence.

Concurrent with this, the valuation of the U.S. dollar stabilised subsequent to its precipitous decline in the preceding week, thereby intensifying apprehensions that the Trump administration's protectionist trade policies may concurrently be eroding its standing as a quintessential safe-haven asset.

Palantir Technologies experienced a 6.2% ascent, extending its streak of gains to a second consecutive day, subsequent to NATO's declaration of its intention to integrate the firm's artificial intelligence capabilities into its allied command operations.

In corollary exchanges early Wednesday, WTI crude, the American benchmark, shed 69 cents to $60.64 per barrel, whilst Brent crude, the international standard, receded 65 cents to $64.01 per barrel.

Trump's imposition of tariffs has fuelled apprehensions regarding a deceleration in economic growth, thereby attenuating the impetus for petroleum and ancillary commodities.

The greenback depreciated to ¥142.26 vis-à-vis ¥143.24, while the common currency appreciated to $1.1377 from $1.1283.