Nvidia Falls Below $4 Trillion as Chip Stocks Sink Mixed Wall Street Close

Nvidia closed below a $4 trillion market value on Friday, Nov. 13, after a week in which it shed $657 billion and fell roughly 12 percent, Yahoo Finance and MarketWatch reported. AMD sank about 10.5 percent the same session as the chip rally unwound, Benzinga reported. The losses came after Jensen Huang resigned as Nvidia chief executive on Thursday.

The broader market finished mixed. The S&P 500 fell 30.73 points, or 0.4 percent, to 7,561.67. The Nasdaq Composite dropped 229.82 points, or 0.9 percent, to 25,136.27. The Dow Jones Industrial Average rose 50.46 points, or 0.1 percent, to 52,347.55, according to the Associated Press. The Russell 2000 slipped 0.3 percent to 2,790.49.

Reuters summed up the session: "S&P 500, Nasdaq end lower as Nvidia uncertainty weighs on tech shares."

How did the week finish?

All three major indexes still posted gains for the week after Monday's rebound from the AI selloff. The S&P 500 gained 184.81 points, or 2.5 percent. The Nasdaq rose 556.85 points, or 2.3 percent, and the Dow added 1,061.82 points, or 2.1 percent. CNBC said the Nasdaq notched its best week since August.

Index performance:

• S&P 500: 7,561.67, down 0.4 percent Friday, up 2.5 percent for the week
• Nasdaq Composite: 25,136.27, down 0.9 percent Friday, up 2.3 percent for the week
• Dow: 52,347.55, up 0.1 percent Friday, up 2.1 percent for the week
• Russell 2000: 2,790.49, down 0.3 percent Friday, up 1.3 percent for the week

Year to date, the S&P 500 is up 10.5 percent, the Dow 8.9 percent and the Nasdaq 8.2 percent. The Cboe Volatility Index rose 3.2 percent to 19.30, according to Yahoo Finance data.

Stocks opened mixed after a cooler-than-expected October producer price report, then gave up early gains as chip stocks slid.

What drove the chip selloff?

Nvidia fell about 3 percent to roughly $161 on Friday, after a drop of more than 4 percent on Thursday. CNBC said the stock was on course for its sixth straight weekly decline.

HSBC cut Nvidia to hold and lowered its price target to $170 from $365, saying the stock will struggle until a new chief executive is named. The Financial Times reported that Nvidia's board approached Arm CEO Rene Haas about the job. Arm's US shares fell about 6 percent, and the Philadelphia Semiconductor Index slid about 5 percent during the session, Investing.com reported.

AMD gave back Thursday's gain of more than 5 percent. Broadcom fell about 5 percent after Rothschild & Co Redburn cut it to neutral from buy, and Dell, Coherent and Sandisk also dropped sharply, CNBC reported. Cisco fell 6 percent as traders cashed out a day after it beat estimates and raised its guidance.

Where did AI clouds and other movers land?

Reuters reported that neoclouds and AI stocks slid again as the Nvidia turmoil rattled the sector. CoreWeave and Nebius each fell about 10 percent in early-afternoon trading, CNBC reported. Benzinga said Nebius fell nearly 17 percent at one point on its weak outlook and Nscale's wider loss. Nebius had cut its 2026 sales expectation to the low end of guidance on colocation delays, and Nscale's amended IPO filing showed a $16.9 billion nine-month loss.

Not every name fell. Modine soared more than 25 percent after Bloomberg reported that Samsung is in talks to buy the data-center cooling maker. Cerebras rose 16 percent before the bell after a surprise profit and better-than-expected third-quarter revenue. Apple rose nearly 1 percent to an intraday record of $360.80 as investors looked for safety, CNBC reported. Microsoft fell more than 1 percent before the open during an outage that disrupted Outlook and Teams.

What happened in bonds, currencies and commodities?

Treasuries extended their worst week since April 2025. The 10-year yield reached as high as 5.17 percent on Friday, its highest since October, Yahoo Finance reported, and was at 5.14 percent in CNBC's afternoon update, up nearly 4 basis points. Bloomberg reported that investors warn the bond rout is not over. The dollar index reached its highest level since April 2025 on bets the Federal Reserve will raise rates.

Brent crude traded at $96.07 a barrel, up 0.3 percent, and WTI at $88.84, according to OilPrice.com, as hopes of an Iran deal faded. Reuters reported oil was still headed for a second straight weekly decline after the IEA said the market is returning to surplus. Gold futures were little changed near $3,882 an ounce, after falling Thursday to about $3,852, the lowest since October 2025.

Bitcoin fell as low as $67,652, a 12-week low below its 200-week moving average, CoinDesk reported. It traded down about 3 percent near $69,000 by mid-afternoon.

Minutes before the closing bell, the Federal Aviation Administration ordered a rare nationwide ground stop of US departures at about 3:54 p.m. ET, citing "extraordinary circumstances." Airline stocks including American, Southwest, JetBlue, Delta and United moved lower before the close, Yahoo Finance reported.

What comes next?

Nvidia reports Tuesday, Nov. 17, in its first report since Huang resigned, with Colette Kress as interim chief executive. Investors are also watching Anthropic's IPO, whose bankers were weighing pricing above the $70 to $78 range, the Financial Times reported. Goldman Sachs on Friday forecast the S&P 500 at 8,700 by the end of 2027 despite slower earnings growth, Reuters reported. Nvidia's direction under an interim chief executive is likely to set the tone for chip stocks into the print.