Markets sank sharply on Wednesday after back-to-back tariff-related headlines from Nvidia and the Federal Reserve rattled investor confidence.

The sell-off started after a disclosure on Tuesday evening after markets closed from Nvidia , which warned of a $5.5 billion hit due to export rules on H20 AI chips developed for the Chinese market.

Nvidia appears to be caught in the increasing tension over tariffs between the US and China.

Stock losses deepened after Federal Reserve President Jerome Powell cautioned that renewed tariffs under the Trump administration could create a "challenging scenario" for the economy. He warned that the Fed's dual mandate — low unemployment and price stability— could be tested if tariffs drive up consumer prices while slowing growth.

Here is how much each of the Magnificent 7 lost on Wednesday — and since Trump's inauguration — at market closing at 4 p.m. ET, according to Yahoo Finance.

Alphabet

Loss in stock value since January 21: 20.51%

Loss in stock value on April 16: 2%

Alphabet, Google's parent company, took a comparatively smaller loss on Wednesday but still saw about one-fifth of its stock value wiped out since Trump became president. In February, Nvidia replaced Alphabet as Wall Street's third most valuable company.

Alphabet donated $1 million to Trump's inauguration.

Amazon

Loss in stock value since January 21: 22.16%

Loss in stock value on April 16: 2.93%

Amazon, the global e-commerce giant, has lost about one-fifth of its share value since Trump's inauguration and could be hit further by tariffs, especially the up to 245% in duties imposed on China.

Amazon donated $1 million to Trump's inauguration fund, and founder and executive chairman Jeff Bezos attended.

Small businesses selling on Amazon told Business Insider they are struggling to keep their doors open as their already razor-thin margins shrink further under tariffs.

Apple

Loss in stock value since January 21: 9.21%

Loss in stock value on April 16: 3.89%

Apple shares briefly rallied on Monday on a surprise tariff exemption on key tech products, but the reprieve was short-lived .

The tech giant is also planning to spend and invest more than $500 billion in the US over the next four years.

Tim Cook, CEO of Apple, personally donated $1 million to Trump's inaugural committee and attended the ceremony.