Stock market today: Dow, S&P 500, Nasdaq slip as Nvidia stock falls on CEO exit, bond yields rise Grace O'Donnell , David Hollerith and Ines Ferré Updated Thu, November 12, 2026 at 4:48 PM EST 2 min read NVDA -3.71% ^GSPC -0.35% ^IXIC -0.39% ^DJI -0.36% ^TNX +2.10% Trade NVIDIA on Coinbase Trading disclosure Trading disclosure The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.
US stock indexes fell on Thursday as investors weighed rising government bond yields and fresh uncertainty surrounding the artificial intelligence boom following the sudden departure of Nvidia (NVDA) CEO Jensen Huang.
The Dow Jones Industrial Average (^DJI) fell 0.4%, while the S&P 500 (^GSPC) declined by 0.4%. The tech-heavy Nasdaq Composite (^IXIC) also fell 0.4%, after getting a lift from Wednesday's chip stock-led rally.
Meanwhile, the benchmark 10-year US Treasury yield (^TNX) climbed above 5% as investors grappled with the odds of more Federal Reserve interest rate hikes and renewed inflation concerns.
Nvidia stock tumbled 4% after trimming losses. The chipmaker has long been at the center of the AI investment boom that has helped drive this year's stock market gains. Its extensive network of partnerships and investments across the AI industry also raises questions about how far the fallout from Huang's reported extramarital affairs and departure could ripple through the broader market. On Thursday, Reuters reported a third alleged affair involving Huang.
Follow the latest developments on Nvidia's CEO here.
Go deeper with AlphaSpace 52,297.09 -189.40 (-0.36%) At close: 4:20:00 PM EST ^DJI ^GSPC ^IXIC Some chipmakers, including Intel (INTC) and Micron (MU), fell, while others, such as Broadcom (AVGO) and rival AMD (AMD), rose.
The tumult, which is just the latest incident to raise investor doubts about the artificial intelligence trade, adds even more pressure for everything to go right in Anthropic's planned public debut next week.
In a related programming note, Yahoo Finance's annual Invest event is here, bringing you insights from our conversations with corporate leaders, including AMD CEO Lisa Su, Intel CEO Lip-Bu Tan, Starbucks (SBUX) CEO Brian Niccol, United Airlines (UAL) CEO Scott Kirby, and many others.
Meanwhile, energy prices sharply reversed course Wednesday with Brent Crude Futures (BZ=F) rising to $96 per barrel following a week of declines. The move came after President Trump shared comments that have raised worries that there is no end in sight for the US-Iran conflict. hovered above.
Wall Street analysts have rapidly adjusted their forecasts to call for more and larger interest rate hikes from the Federal Reserve following Tuesday's hotter-than-expected inflation report. "We're at a precarious moment," Chicago Fed President Austan Goolsbee said at Yahoo Finance Invest.
A more hawkish central bank is viewed as a negative for US borrowers and riskier assets, including cryptocurrencies. Most digital assets were in the red, with bitcoin (BTC) tumbling below $72,000.
Cerebras Systems (CBRS) shares jumped 15% in post-market trading after the AI chipmaker reported record third-quarter revenue and raised its full-year outlook.
The company's core revenue rose 70% year over year to $230.9 million while cloud revenue surged 272% to $144.9 million. The maker of AI chips, looking to compete with Nvidia (NVDA), said it sees 4th-quarter core revenue of $310 million to $330 million, versus Wall Street consensus estimates of $271.2 million.
The company also announced commercial deals with two new hyperscalers, or large cloud computing providers that operate massive data centers. One is among the world's top three, with Cerebras saying it would share more details about the major cloud deal next year.
"We won new marquee customers, including hyperscalers, neoclouds and large enterprises. And we saw our pipeline for high-speed AI inference increase by more than 10x in the quarter," said Bob Komin, CFO of Cerebras, in the company's earnings release.
US stock closed the session lower on Thursday, with Nvidia (NVDA) shares sinking more than 4% after Jensen Huang resigned as CEO of the AI chip giant this morning following claims of extramarital affairs.
Rising bond yields also put pressure on stocks on growing expectations that the Federal Reserve may have to raise interest rates in December.
The Dow Jones Industrial Average (^DJI) fell 0.3%, while the S&P 500 (^GSPC) declined by 0.3%. The tech-heavy Nasdaq Composite (^IXIC) fell 0.4%.
Go deeper with AlphaSpace 166.19 -7.54 (-4.34%) At close: 4:00:01 PM EST 167.25 +1.06 (+0.64%) After hours: 4:54:56 PM EST Today at 8:30 PM UTC Ines Ferré SpaceX and Tesla merger talks reportedly progress: Report Elon Musk-led SpaceX (SPCX) and Tesla (TSLA) are reportedly progressing in their merger talks, according to Bloomberg. Advisers for both companies are discussing the terms, the report said. An announcement could be made as early as December, but the merger deal could slip into 2027.
Former Nvidia (NVDA) CEO Jensen Huang had a romantic relationship with another employee at the chipmaker, Reuters reported on Thursday afternoon, citing two people familiar with the matter.
The report follows earlier media accounts of two other alleged affairs, bringing the number of reported relationships to three. Those reports identified the other women as Alice Huang, whom US intelligence reportedly suspected of having ties to Chinese intelligence, and Kimberly Powell, Nvidia's vice president of healthcare.
Shares of Nvidia were down 5% in afternoon trading.
Treasurys are selling off after President Trump signaled today that he has no plans to bring an immediate end to the war in Iran, indicating that inflation will continue to be a problem for the Fed.
The 10-year yield (^TNX) jumped 12 basis points to 5.12%, while the 30-year yield (^TYX) rose 9 basis points to 5.44%, exerting pressure on equities. Bond yields move in the opposite direction to bond prices.
Several Fed officials also expressed a bias toward raising interest rates. "My bias is that further tightening will be needed because you just see this consistent pressure on inflation that isn't simply in the sectors that are most directly affected by tariffs or oil," San Francisco Fed president Mary Daly said at an event Thursday, per Dow Jones Newswires.
Stocks gave up their hard-fought gains in midday trading as yields continued to climb.
Go deeper with AlphaSpace 5.10 +0.10 (+2.10%) At close: 1:59:54 PM CST ^TNX ^TYX ^FVX Today at 7:07 PM UTC David Hollerith 'We're at a precarious moment' with inflation, says Chicago Fed's Goolsbee Chicago Federal Reserve President Austan Goolsbee was hopeful inflation would be cooling down by now, Yahoo Finance's Jennifer Schonberger writes.
Instead, Tuesday's hotter-than-expected October inflation report marked the second straight month of rising prices — putting the central bank in what Goolsbee warns is a "precarious moment."
"I was hopeful that we were going to actually see a substantial shrinking of the inflation rate as we rolled through the tariffs and as maybe the price of oil was going to come back down, but it hasn't really worked out that way," Goolsbee said at Yahoo Finance Invest. "So we're at a precarious moment."
Microsoft (MSFT) said it is looking into reports that users are unable to access Exchange Online mailboxes via various connection methods across various regions.
"While we're working to mitigate impact, we've confirmed the issue may affect Microsoft 365 service connectivity for users in any region," read a company statement on X.
Shares of the tech giant trimmed earlier gains following the announcement.
The sudden ouster of Nvidia co-founder and CEO Jensen Huang has introduced a new question ahead of Anthropic's massive initial public offering next week:
What happens to the chipmaker's $10 billion investment commitment?
Nvidia has pledged to purchase $10 billion in Anthropic's $26 billion private placement tied to its IPO, according to Anthropic's latest IPO filing.
The investment is expected to close immediately after Anthropic's public offering, subject to certain conditions. It remains unclear whether Huang's departure will affect Nvidia's commitment.
The timing puts two of the artificial intelligence industry's biggest companies in the spotlight next week. Nvidia is scheduled to report quarterly earnings on Tuesday, Nov. 17, while Anthropic expects to price its IPO on Wednesday, Nov. 18, and begin trading the following day.
Major US stock indexes moved higher Thursday, paring earlier losses sparked in part by the sudden departure of Nvidia co-founder and longtime CEO Jensen Huang.
As investors grapple with what Huang's exit could mean for the artificial intelligence trade, one Wall Street veteran offered some historical perspective.
"Sad about Jensen. Shakespearean. But as [Charles] de Gaulle said, 'The graveyards are filled with indispensable men'," former Goldman Sachs CEO Lloyd Blankfein posted on X Thursday.
Huang's departure has raised questions extending well beyond the chipmaker, including what Nvidia's turmoil could mean for the many AI firms it has backed.
Stocks rebounded from session lows in midday trading as tech pared losses and energy stocks gained. The 10-year Treasury yield (^TNX) rose by 8 basis points to 5.09% amid broader bond pressure.
Nvidia (NVDA) stock, which sank as much as 13% in early trading, trimmed losses back to 5% as traders weighed the company's future without Jensen Huang. Other notable movers on Thursday included Alibaba (BABA), Alphabet (GOOG), Nebius (NBIS), and Intuitive Machines (LUNR).
Here's a look at the sector action as of around noon ET, per an AlphaSpace heatmap:
Anthropic (ANTH.PVT) is plowing ahead with its initial public offering for next Thursday despite the recent turmoil in the AI sector due to Nvidia CEO Jensen Huang's ouster.
The company posted that "shares are expected to begin publicly trading on November 19th (EST)." It's expected to price the IPO the day before, on the 18th.
Shares of Michael Saylor's bitcoin juggernaut, Strategy (MSTR), sank by as much as 6% Thursday, adding to bitcoin's woes as the world's largest cryptocurrency fell below $72,000.
The move comes after major index provider MSCI confirmed plans Wednesday evening to remove the largest publicly traded holder of bitcoin from two US stock indexes.
The removal follows MSCI's decision to exclude certain companies whose business models increasingly resemble investment funds rather than traditional operating companies. The decision could force funds tracking those indexes to sell its holdings of Strategy's stock.
Strategy has emphasized the company's ability to withstand bitcoin downturns. On its October earnings call, CEO Phong Le pointed to $21 billion in capital raised so far this year as evidence of continued investor demand.
Bitcoin (BTC) is down about 8% so far in November, pressured by expectations of a more hawkish Federal Reserve and fresh political uncertainty following Democrats' sweep of Congress in last week's midterm elections.
Investors are grappling with what the ousting of Jensen Huang could mean for the artificial intelligence industry, which has fueled much of the stock market's biggest gains this year.
But how much uncertainty is the corporate upheaval injecting into the broader stock market? So far, Wall Street's fear gauge suggests a relatively muted reaction as of 10 a.m. ET on Thursday.
The CBOE Volatility Index, or VIX (^VIX), rose to around 18.26, just above its average level of 18.2 for 2026, according to Yahoo Finance data. The index has recorded 47 larger daily surges this year that exceeded Thursday's increase, including a nearly 70% surge during last week's post-election sell-off.
Initial applications for unemployment benefits ticked up by 9,000 to 200,000 for the week ended Nov. 7, the Labor Department said Thursday. Economists were expecting initial jobless claims to rise to 195,000.
The four-week average for jobless claims remained unchanged at 195,250 claims as the labor market remains broadly stable.
Continuing claims — a proxy measure of the total number of people who are unemployed — decreased by 20,000 to about 1.7 million for the week ended Oct. 31, meanwhile.
Nvidia (NVDA) stock trimmed losses, falling roughly 7% after dropping 14% at the open. Shares sank after the AI chip giant announced that CEO Jensen Huang resigned effective immediately.
The company's market cap was still below $4 trillion as shares have dropped roughly 30% over the past month.
Go deeper with AlphaSpace 166.19 -7.54 (-4.34%) At close: 4:00:01 PM EST 167.25 +1.06 (+0.64%) After hours: 4:54:56 PM EST Today at 2:44 PM UTC David Hollerith Stocks fall as Nvidia sinks after Jensen Huang steps down US stocks opened lower Thursday as Nvidia shares sank following CEO Jensen Huang's decision to step down, rattling an artificial intelligence trade that had just begun to recover.
The S&P 500 (^GSPC) fell 0.3%, while the tech-heavy Nasdaq Composite (^IXIC) dropped 0.6%, backsliding from Wednesday's chip stock-led rally. The Dow Jones Industrial Average (^DJI) remained flat.
Nvidia (NVDA) shares tumbled more than 10% before the bell, dragging on other AI-linked stocks after Huang's departure added another layer of uncertainty around the chipmaker.
Investors were also keeping an eye on elevated Treasury yields, with the 10-year hovering around 5.0%, while awaiting earnings from Cisco and Applied Materials after the bell.
Go deeper with AlphaSpace 52,297.09 -189.40 (-0.36%) At close: 4:20:00 PM EST ^DJI ^GSPC ^IXIC Today at 1:59 PM UTC Ines Ferré Nvidia CEO Jensen Huang resigns Jensen Huang has resigned as Nvidia CEO on Thursday morning following reports of two extramarital affairs.
Nvidia board announced the transition on Thursday morning, saying Huang" has resigned as President, Chief Executive Officer, and a member of the Board, effective immediately."
The company board named CFO Colette Kress as interim CEO until a permanent successor is named.
The board had reportedly met last night after The New York Times reported on allegations that Huang had a second extramarital affair, this time with an Nvidia executive. The other affair was with someone who the US intelligence community reportedly believed was a Chinese spy.
Follow the latest updates on Nvidia here.
President Trump said on Thursday that "we don't need a deal with Iran" as he indicated that he's directing Vice President JD Vance to focus on domestic matters in the wake of the Democratic blue wave.
"I have asked Vice President Vance to focus his complete and total attention on the Massive Corruption and Crime taking place in Democrat run Cities and States throughout the U.S.," Trump posted on Truth Social. "We don't need a deal with Iran. Those days have long since passed. We've got their money, Hundreds of Billions of Dollars, and we've got their Strait!"
Crude oil prices jumped following Trump's post as traders braced for the ongoing war to persist. WTI crude oil, the global benchmark, rose 1.5% to $94 per barrel.
Trump's post came after the Wall Street Journal reported that Vance was considering direct talks with an Iranian official to bring about the end of the war. According to the report, Vance sent a letter to Mohsen Rezaei, a top security official in Iran, requesting a meeting.
Vance also blamed the GOP's midterm election wipeout on the war in Iran. "The reason we lost is the war. The president himself said so last night," Vance said on X following the election results.
The AI trade was on shaky ground Thursday morning as Nvidia (NVDA) stock sank amid uncertainty over CEO Jensen Huang's future at the AI chip giant. Rivals Broadcom (AVGO) and AMD (AMD) pared earlier premarket gains as investors bet Nvidia's troubles could send more chip business their way.
The rest of the AI sector didn't fare well. Shares of Nvidia-backed neocloud provider CoreWeave (CRWV) dropped 10% in pre-market trading on Thursday, giving back some of the prior session's gains sparked by a strong quarterly print. Peer Nebius *(NBIS) also sank.
Other semiconductor names declined. Chip maker Intel (INTC) stock dropped 2%, while shares of Taiwan Semiconductor Manufacturing Company (TSM), which manufactures Nvidia chips, also fell more than 2%. Semiconductor equipment maker ASML (ASML) slipped into red territory.
Storage maker Sandisk (SNDK) dropped 5% in pre-market trading, and memory chipmakers Micron Technology (MU) and SK Hynix (SKHY) declined roughly 4%.
Drumroll please… Yahoo Finance's annual Company of the Year is Anthropic (ANTH.PVT).
In the nearly six years since OpenAI employees broke off and founded the rival AI lab, Anthropic has become one of the key players in the AI race. The company's revenue surpassed $33 billion in the first nine months of the year after Anthropic brought in $2.5 billion the year before.
Yahoo Finance's Dan Howley reports on why Anthropic won Company of the Year:
Anthropic has also drawn its share of controversy ranging from employees predicting that AI could kill all humans to showdowns with the Trump administration.
Despite that, Anthropic's sales continue to improve. Its number of customers spending more than $100,000 has increased from roughly 1,500 in December 2025 to more than 11,900 as of Sept. 30. Its computing efficiency has also jumped, meaning it's seeing more revenue per dollar spent on computing infrastructure.
"There's no real historical analogy for a company that has been this successful this fast," NYU Stern School of Business professor Arun Sundararajan told Yahoo Finance.
