NVIDIA Corporation (NASDAQ:NVDA) shares are trading lower on Tuesday alongside other semiconductor stocks as escalating U.S.-China trade tensions create macro uncertainty, weighing on the broader market.

What Happened: U.S. stocks declined on Tuesday as Beijing ramped up its trade dispute with Washington, according to Bloomberg.

The S&P 500 dropped as much as 1% in early trading Tuesday, marking its third consecutive session with a move of at least 1% in either direction, the first such streak since April. The Nasdaq experienced an even sharper downturn as tech investors digested the recent re-escalation of trade tensions between the U.S. and China.

China reportedly imposed sanctions on five US divisions of South Korean shipping company Hanwha Ocean Co. and warned of further retaliatory actions against the industry. The move represents the latest volley in an ongoing series of retaliatory ...