ASX to open down as Nvidia and Jerome Powell spark tech sell-off

Wall Street stocks sold off Wednesday afternoon as Federal Reserve Chair Jerome Powell raised anxiety over stagflation, exacerbating index losses led by technology stocks, which were caught in the crosshairs of escalating US-China trade tensions. The S & P 500 slid 2.4%, and the Nasdaq plunged 3.4%. The selling was broad-based, with 85% of stocks in the S & P 500 in the red. Semiconductor companies bore the brunt of the slide after Nvidia and Advanced Micro Devices said President Donald Trump's administration curbed the export of their chips to China, with sentiment further hurt by a disappointing earnings report…