Nvidia shares slide as board weighs Jensen Huang’s future (12 Nov)
- Nvidia shares fell 6.57% in premarket trading following reports of CEO Jensen Huang's personal controversies.
- The Nvidia board is reportedly weighing the future of CEO Jensen Huang.
- Polymarket odds for the S&P 500 opening higher dropped to 33% amid the tech sell-off.
- The CME FedWatch tool indicates a 92.8% probability of a rate hike in December.
- Iranian officials issued warnings regarding U.S. military bases and the Strait of Hormuz.
Nvidia shares tumbled 6.57 percent in premarket trading on November 12, 2026, following a New York Times report detailing a second extramarital affair involving CEO Jensen Huang and potential board action to remove him. The stock traded at $173.73 as of 6:34 p.m. IST, a decrease of $4.94 or 2.76 percent from the previous close of $178.67.
This scandal has unsettled investors, erased billions of dollars in market value, and raised questions regarding the company’s succession plan, ownership structure, and leadership.
Before the second affair report emerged, 88 percent of Nvidia staff backed Huang as CEO. During the trading session, the stock recorded a daily high of $177.54 and a daily low of $170.77, with a total trading volume of 281,514,030 shares.
Market reaction to Nvidia rout and tech futures
Polymarket odds for the S&P 500 opening higher dipped to 33 percent. This decline follows reports of leadership instability at Nvidia, falling oil prices, and a drop in tech futures.
The SPDR S&P 500 ETF Trust dropped 0.39 percent to $756.84 in premarket trading on November 12, 2026.
Asian stock indices including the ASX 200, Nifty 50, Kospi, CSI 300, Hang Seng, and Nikkei 225 all recorded losses on Thursday. European markets trended upward during the early trading session on Thursday.
Broader market performance and commodity shifts
CoreWeave shares fell 5.54 percent in premarket trading on November 12, 2026, after a 25 percent jump on Wednesday. Tetra Tech shares rose 8.42 percent after reporting fourth-quarter 2026 earnings of $0.49 per share on $1.34 billion in revenue.
Franco-Nevada shares declined 0.14 percent on November 12, 2026, following third-quarter 2026 earnings of $1.89 per share on $549.30 million in revenue.
Commodities saw mixed movement on November 12, 2026, with WTI crude oil futures falling 0.15 percent to $86.40 per barrel. Brent crude futures rose 0.11 percent to $92.86 per barrel, while gold spot prices fell 1.06 percent to $3,936.24 per ounce. Dollar Index rose 0.01 percent to 102.8873.
Bitcoin fell 0.70 percent over the 24-hour period ending November 12, 2026, trading at $73,413 per coin.
Macroeconomic outlook and Federal Reserve expectations
The CME Group’s FedWatch tool shows a 92.8% probability that the Federal Reserve will hike interest rates following its December meeting.
Howard Marks identified Warren Buffett's 1979 warning on uncertainty as a key lesson for investors currently managing the AI boom.
Geopolitical tensions escalate in the Middle East
He stated, “NO SAFE DISTANCE. NO SAFE HAVEN. NO IMMUNITY”.
Nvidia company background and operational scope
The firm develops graphics processing units, systems on chips, and application programming interfaces. These technologies serve artificial intelligence, data science, high-performance computing, and mobile and automotive applications.
Frequently Asked Questions
- Nvidia Boardroom Turmoil: What's Happening to Jensen Huang? (economictimes.indiatimes.com)
- Stock Market Today: Nvidia Rout Sinks Nasdaq, S&P 500 Futures as Board Weighs Jensen Huang’s Future — CRWV,… (benzinga.com)
- Nvidia (Wikipedia — background) (en.wikipedia.org)
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