US Stock Market Trends (November 13): Jensen Huang Resigns, Nvidia Falls 4.3%; AMD and Broadcom Rise Nearly 6%

Nvidia shares closed down 4.3% at $166.19 after the company announced CEO Jensen Huang's immediate resignation, with CFO Colette Kress named interim CEO and Harvey Jones appointed chairman; the stock had fallen as much as 14% intraday and is now nearly 40% below its prior-year high, trading at about 12x forward earnings, its lowest since 2012. Rival chipmakers absorbed the outflow, with AMD up 5.9% and Broadcom up 5.5% to lead the S&P 500, while Nvidia-linked names sold off—CoreWeave fell 7%, Nebius dropped 17%, and Super Micro lost 11%. The broader market recovered from an early 1.6% Nasdaq decline to close roughly 0.4% lower across the Dow (52,297.09), S&P 500 (7,592.40) and Nasdaq (25,366.09), while the Russell 2000 fell 1.7%. The 10-year Treasury yield jumped about 11.6 basis points to 5.105%, back above 5%, as fed funds futures priced roughly 29 basis points of December tightening, and Brent crude rose 3.3% to $95.82 on Trump's remarks on Iran and Houthi attacks on Saudi energy sites. Investors now await Nvidia's permanent CEO appointment and its Q3 earnings next week, hosted by Kress, along with October PPI data and pending Commerce Department rules requiring licenses for Blackwell-class AI chip exports to seven countries including Singapore, Malaysia and Thailand.