Nvidia shares fell 8% following a U.S. ban on H20 chip sales to China, adversely affecting both equity and cryptocurrency markets. Bitcoin dropped to $83,600, down from a recent high of $86,440, and other cryptocurrencies, including XRP and Cardano's ADA, also experienced declines. XRP decreased over 2% to $2.08, while ADA fell 4% to $0.61. The overall crypto market weakened by more than 2%. This downturn coincides with investor anxiety about future economic conditions, pending the U.S. retail sales report and Federal Reserve Chairman Jerome Powell's anticipated speech. Economic analysts predict consumer spending might increase by 1.2% for March. The report's outcomes could impact recession fears linked to President Trump's escalating trade tensions with China. Additionally, a drop in stocks tied to artificial intelligence further influenced market sentiment as Nvidia reported significant write-downs due to export restrictions. Overall, a cautious approach prevails among traders as they await further economic cues.

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