US crypto mining stocks tumbled at the close of May 28 trading after minutes published by the Federal Reserve signaled its growing uncertainty about the country’s economic outlook. The crypto market remained unscathed,

Specifically, Nvidia ( NVDA 3.07%) will announce its first-quarter financial results after the market closes on Wednesday, May 28, and the Federal Reserve will publish the minutes from its May meeting earlier that same day. Then the Commerce Department will release PCE inflation and consumer spending data for April on Friday, May 30.

Stocks dipped Wednesday as investors interpreted recent meeting minutes published by the Federal Reserve and waited for tech giant Nvidia to report its first-quarter earnings results. The S&P 500 posted a daily decline of 0.6%, the Nasdaq was down 0.5%, and the Dow Jones dropped 0.6%.

The S&P 500 ( ^GSPC -0.67%) is down 1% year to date, but that number doesn't tell the whole story. The index initially advanced 4% as investors anticipated deregulation and tax cuts under President Trump. Instead, the administration shocked Wall Street with aggressive trade policies and the stock market crashed.

Nvidia is expected to report a 66.2% surge in first-quarter revenue, according to data compiled by LSEG. Traders in the options markets are bracing for industry-wide volatility with defensive options contracts drawing heavy attention for the VanEck Semiconductor ETF,