Nvidia shares were active in early Tuesday trading after reports said China launched an antitrust probe into the AI-chip maker, as Beijing hits back at President Donald Trump's addition of a 10% levy on China-made goods as part of his focus on tariffs and trade deficits.

Nvidia Corp.’s stock is declining in Monday action as investors weigh the potential for tariffs to impact chip companies and continue to assess the fallout from DeepSeek. Shares of Nvidia are down 3.4% in midday action to rank among the worst performers in the PHLX Semiconductor Index The stock has pared losses with President Trump now saying he has agreed to pause the Mexico tariffs for a month.

Tesla was particularly battered as it joined Apple (-3%) and Nvidia (-3%), as American multinational companies with the highest proportion of sales in China.

Trump's imposition of tariffs on imports from China, Mexico and Canada rattled markets, with shares of media companies falling lower.