Market Turmoil: Wall Street Faces Russian Tensions and Nvidia's Anticipated Earnings

Wall Street's main indexes dropped amid escalating Russia-Ukraine tensions and ahead of Nvidia's earnings report. The markets reacted to missile launches and nuclear concerns, while Nvidia's anticipated results influenced tech stocks heavily. Target suffered a significant dip following a lackluster forecast.

On Wednesday, Wall Street's key indexes faced declines as investors were rattled by rising Russia-Ukraine tensions and awaited Nvidia's quarterly earnings report. The geopolitical situation worsened after reports of missile exchanges, raising fears of further instability.

Nvidia, a giant in AI technology, saw its shares drop 0.8% ahead of its earnings announcement, affecting the tech-heavy Nasdaq. The company, which has significantly contributed to the S&P 500's performance this year, faces high expectations from investors.

Meanwhile, Target's shares plunged by over 20% after predicting below-expectation sales for the holiday quarter. The downturn in Target's stock pulled down other retail stocks including Dollar Tree and Dollar General.

(With inputs from agencies.)