US stocks fall as Nvidia CEO Jensen Huang resigns (13 Nov)

Nvidia shares drop 4.3% amid board investigation

Nvidia’s board of directors opened an investigation into Jensen Huang regarding a relationship with a woman alleged to be a Chinese government agent. The company's stock finished the trading day down 4.3 percent after halving its earlier losses.

This decline followed a period where the share price had fallen 27 percent from a record high reached the previous month. That record had been set after the stock climbed 1,722 percent over four years, compared to a 109 percent rise in the S&P 500 over the same timeframe.

Broader market indices and bond yields impact

The Dow Jones Industrial Average dropped 189.40 points, or 0.4 percent, to close at 52,297.09.

The Nasdaq Composite closed at 25,366.09, down 100.10 points or 0.4 percent, after reducing an earlier decline of 1.6 percent. Rising bond yields added pressure to equities, as higher yields increase borrowing costs for the U.S. government, homebuyers, and AI data-center builders.

Energy sector and rival tech stocks offset losses

Oil prices increased after President Trump announced he was no longer pursuing a deal with Iran and asked his vice president to look into U.S. cities and states governed by Democrats. The price of a barrel of Brent crude increased 3.3 percent to $95.82. Oil prices jumped, contributing to market volatility.

Marathon Petroleum gained 2.5 percent and ExxonMobil added 1.8 percent as oil-related stocks helped curb market losses. Rival tech companies also saw gains, with Broadcom rising 5.5 percent. Advanced Micro Devices rose 5.9 percent on expectations that rival chip makers might gain a competitive edge.

Indian markets close higher despite global volatility

Indian markets closed higher on Thursday despite global volatility. The Sensex settled 31.61 points, or 0.04 percent, higher at 81,911.01. The Nifty 50 rose 44.30 points, or 0.18 percent, to finish at 25,299.35.

The Bank Nifty index gained 726.10 points, or 1.19 percent, to close at 61,518.50. Nifty November futures remained flat at 25,314, trading at a premium of 15 points. For Nifty options expiring on November 17, the maximum call open interest sits at 26,000, while the maximum put open interest is at 24,000.

Indian corporate developments and investments

Union Bank increased its stake in Star Union Dai-ichi Life Insurance to 26.24 percent from 25.1 percent by investing an additional ₹337 crore. EIH plans to invest ₹777 crore in a new Hyderabad hotel expected to be operational by September 2030.

Global market performance and economic indicators

European stock indexes were mixed on Thursday after a weaker finish in Asia. Hong Kong's Hang Seng index fell 1.3%.

The market swing was driven by Nvidia news and oil price movements, though the broader market later steadied.

CoreWeave fell 6.9%. Micron Technology sank 1.6%. TradingView reported that Nvidia futures and the Nasdaq were dragged down while stocks like CRWV, TTEK, and FNV were in focus.

Wall Street recovered most of its early losses after the initial sell-off as bond yields eased slightly. The bond market was closed on Wednesday for Veterans Day.

Small-cap stocks fell sharply, while defensive groups such as utilities and consumer staples held up better. Several rival technology stocks rose, offsetting some of the market decline. Equities closed lower overall as the decline in Nvidia outweighed gains in the energy sector.

The US stock market shook on Thursday but largely absorbed large swings for Nvidia and oil prices, ending with relatively modest losses. October sales of previously occupied US homes fell to their slowest level in more than 16 years due to high mortgage rates. A slightly higher number of US workers filed for unemployment benefits last week, though the figure remains relatively low compared with historical levels.