US stocks sink on tech sell-off and tariff worries
美股因科技股抛售和关税担忧而下跌

US stocks fell sharply on Thursday as a renewed sell-off in the tech sector rattled a market already weighed down by concerns about the impact of President Donald Trump’s tariffs on the world’s biggest economy.
美国股市周四大幅下挫，科技股再度遭遇抛售，令本已因担心唐纳德·特朗普总统的关税对全球最大经济体影响而承压的市场更加动荡。

The blue-chip S&P 500 closed down 1.8 per cent, leaving it on course for its worst week since early September. The tech-heavy Nasdaq Composite lost 2.6 per cent, with chipmaker Marvell Technology plunging 20 per cent after its first-quarter results disappointed.
蓝筹股标普 500 指数收盘下跌 1.8%，使其有望创下自 9 月初以来最糟糕的一周。以科技股为主的纳斯达克综合指数下跌 2.6%，芯片制造商 Marvell Technology 在第一季度业绩令人失望后暴跌 20%。

Nvidia, which fell 5.7 per cent, was among the biggest laggards out of the Big Tech groups, while fellow chipmaker Broadcom slipped 6.3 per cent ahead of its earnings report due after close.
英伟达（Nvidia）下跌 5.7%，是大型科技集团中表现最差的公司之一，而另一家芯片制造商博通（Broadcom）在收盘后即将发布的财报前下跌了 6.3%。

Wall Street stocks have weakened over the past two weeks as Trump’s tariffs on China, Mexico and Canada sparked fears over the hit to growth — reversing a multiyear period of US dominance in global equities.
华尔街股市在过去两周走弱，因特朗普对中国、墨西哥和加拿大征收的关税引发了人们对经济增长受冲击的担忧——这逆转了美国在全球股市多年来的主导地位。

“Investors are starting to think the US administration is losing control of the narrative,” said Luca Paolini, chief strategist at Pictet Asset Management.
“投资者开始认为美国政府正在失去对叙事的控制，”Pictet Asset Management 的首席策略师 Luca Paolini 表示。

JPMorgan analyst Dubravko Lakos-Bujas added: “The US exceptionalism trade has been experiencing turbulence over the last two weeks as policy uncertainty rose sharply at a time of a budding growth scare and crowded investor positioning.”
摩根大通分析师 Dubravko Lakos-Bujas 补充道：“过去两周，随着政策不确定性在经济增长担忧初现和投资者仓位拥挤之际急剧上升，美国例外主义交易经历了动荡。”

Stocks briefly trimmed losses on Thursday after the US signalled the latest tariff reprieve to its trading partners before resuming their decline.
周四，美国向其贸易伙伴发出最新关税暂缓信号后，股市短暂收窄跌幅，随后继续下跌。

Thursday’s decline is the latest swing on Wall Street this week as investors weigh the fallout from Trump’s tariffs on America’s three largest trading partners, a last-minute exemption for carmakers and the threat of more sweeping tariffs next month.
周四的下跌是华尔街本周的最新波动，投资者正在权衡特朗普对美国三大贸易伙伴征收关税的影响、汽车制造商的最后一刻豁免以及下个月可能出台的更广泛关税威胁。

“We are in a ping-pong market,” said Mike Zigmont, co-head of trading at Visdom Investment Group. “At the moment, the market [takes] the latest White House soundbite as fact, but it is ready to go the other way in a heartbeat.”
“我们正处于一个乒乓球市场，”Visdom Investment Group 交易联席主管 Mike Zigmont 表示。“目前，市场将白宫的最新言论视为事实，但它随时可能转向另一方向。”

In a sign of the rising worries, demand for S&P 500 index put options — which would gain in price if Wall Street’s blue-chip index falls — expiring later on Thursday have skyrocketed, Bloomberg data shows.
彭博数据显示，随着担忧情绪上升，周四晚些时候到期的标普 500 指数看跌期权（如果华尔街蓝筹股指数下跌，该期权价格将上涨）的需求激增。

Stocks have also been hit in recent weeks by worsening economic data, including manufacturers reporting a steep decline in orders in February.
近几周来，股市也受到经济数据恶化的打击，包括制造商报告 2 月份订单大幅下降。

Private sector jobs data on Wednesday showed that only 77,000 jobs were created in February, compared with economists’ estimate of 140,000. Closely watched non-farm payrolls figures on Friday will offer the latest indication of the health of the US labour market.
周三的私营部门就业数据显示，2 月份仅创造了 77,000 个工作岗位，而经济学家的预估为 140,000 个。备受关注的非农就业数据将于周五公布，这将为美国劳动力市场的健康状况提供最新指标。

European stocks, however, continued a recent rally that has led them to outperform Wall Street this year. The Europe Stoxx 600 was flat, while Germany’s Dax, which has surged following a historic €500bn spending package from Berlin announced earlier in the week, gained 1.5 per cent.
然而，欧洲股市延续了近期的涨势，今年表现优于华尔街。欧洲斯托克 600 指数持平，而德国 DAX 指数上涨 1.5%，此前柏林宣布了一项历史性的 5000 亿欧元支出计划，推动该指数大幅上涨。

The US dollar was down 0.1 per cent against a basket of rivals.
美元对一篮子货币下跌 0.1%。

Additional reporting by Ian Smith
Ian Smith 补充报道