U.S. stocks: Bank stocks weakened after quarterly results, with the Nasdaq leading the decline by over 1%. NVIDIA reportedly faced a rejection from China, causing its stock price to drop by 2%

In November, the U.S. Producer Price Index and retail sales data showed robust performance, but investors digested a new batch of corporate earnings, leading to a second consecutive day of declines in U.S. stocks on Wednesday. The S&P 500 index fell by 0.8%, the Dow Jones Industrial Average dropped by 170 points or 0.3%, and the Nasdaq decreased by 1.4% or 330 points, leading the decline.

After several large banks reported their quarterly results, performance was weak. Wells Fargo (WFC.US) became one of the weakest stocks in early trading, with its share price falling over 4% as the bank's fourth-quarter revenue fell short of market expectations. Bank of America (BAC.US) reported a 12% year-on-year increase in fourth-quarter profits, exceeding expectations, with net interest income rising by 10%, but its share price also fell by more than 3%. Citigroup (C.US) exceeded expectations in fourth-quarter earnings, but its share price dropped by 2%.

Intel (INTC.US) rose by 2% against the trend. All members of the Magnificent Seven fell, as reports indicated that Chinese customs authorities received a notification not to approve NVIDIA's H200 chips for entry into China, causing NVIDIA (NVDA.US) to drop by 2%, leading the decline