Nvidia’s $1.7 Trillion Slide After Huang Exit
Nvidia shares fell 13% in the week ended Friday, 13 November 2026, wrapping a sixth consecutive weekly decline — the longest losing streak since 2012, according to CNBC. The chip giant has lost roughly $1.7 trillion in market capitalization since the slide began in early October, a 30% decline that pushed it below Apple in value.
The selloff deepened after co-founder and CEO Jensen Huang resigned on Thursday, 12 November, following two separate extramarital affairs — one with a woman alleged to be a Chinese spy and another with an employee — that were made public. The board named finance chief Colette Kress as interim CEO while it searches for a full-time successor.
Huang, who led Nvidia for 33 years, sent a letter to employees over the weekend apologizing for being “unfaithful to my wife.” The board convened late Wednesday after The New York Times reported the second affair, with the company’s vice president of health care. By early Thursday morning, Huang was out.
How The Market Traded Around The Resignation
Nvidia stock fell as much as 14% at Thursday’s open, its lowest since June 2025, before closing down 4.3%, per AOL. By Friday morning it was down about 9% for the week. The broader market, however, bounced: the Nasdaq 100 jumped 3.4% on Monday, its best day since March, as chip stocks rebounded from the prior week’s 12% rout.
Through Tuesday, Nvidia had lost 18% in five sessions — a steeper slide than during the DeepSeek shock of January 2025. Wednesday brought a rally: CoreWeave’s beat-and-raise quarter sent its stock up 25% and the Philadelphia Semiconductor Index up 5.7%, lifting the Nasdaq 100 by 2.3%. By Friday morning, the Nasdaq 100 was up nearly 5% for the week, the S&P 500 more than 3% and the Dow about 2%.
Verified market data as of Friday, 13 November, showed the Nasdaq 100 at 27,943.74, down 1.22%, while the S&P 500 ETF proxy (SPY) traded at 749.6, down 1.25%, and the Dow Jones ETF proxy (DIA) at 521.21, down 0.39%.
Inflation Data Complicates The Fed’s December Path
October consumer prices rose 0.4% against a 0.3% forecast, and core prices rose 0.3% versus 0.2%, according to AOL. Producer prices rose 0.3%, below forecasts, but the 6.5% annual rate is the highest since November 2022.
Hours before the CPI release, Federal Reserve Gov. Christopher Waller said in London he leaned toward a quarter-point December hike unless the report ran hot. The hotter-than-expected CPI print puts that guidance in question, leaving investors to weigh the inflation path against the leadership uncertainty at the world’s largest chipmaker.
What To Watch: Kress’s First Moves And The December Fed Meeting
Interim CEO Colette Kress now faces the task of stabilizing Nvidia through a market that has already priced in a 30% drawdown. The company’s next earnings date and any signal from Kress on strategy will be the first test of whether the selloff reverses or extends.
On the macro side, the December Federal Reserve meeting is the key decision point. Waller’s quarter-point hike lean was conditioned on a cooler CPI report; with October CPI at 0.4% versus 0.3% expected, a 50 basis point move — which Waller mentioned as a possibility if the report ran hot — cannot be ruled out. A confirmed 50 basis point hike would likely pressure high-multiple chip stocks further, while a quarter-point move with dovish language could mark the bottom for Nvidia’s slide.
Sources: rss_autopost