Wall Street Slides As Chip Stocks Extend Selloff. Nasdaq Takes Biggest Hit Despite Cooler Inflation Merin Rebecca Thomas Fri, November 13, 2026 at 4:18 PM EST 3 min read ^IXIC -0.91% ^DJI +0.10% ^GSPC -0.40% NVDA -2.97% 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.
Wall Street ended a volatile week on a mixed note Friday, with technology stocks leading another selloff following Nvidia CEO Jensen Huang's sudden departure. However, the Nasdaq and S&P 500 managed to snap four-week losing streaks as gains earlier in the week outweighed Friday's losses.
The Dow Jones Industrial Average edged up 46.14 points, or 0.09%, to 52,343.23, according to preliminary closing figures. The S&P 500 fell 31.53 points, or 0.42%, to 7,560.87, while the Nasdaq Composite dropped 230.13 points, or 0.91%, to 25,135.96.
Despite Friday's retreat, the S&P 500 gained approximately 2.5% for the week, the Nasdaq advanced 2.3% and the Dow climbed 2.1%. The weekly recovery followed four consecutive weeks of declines for both the S&P 500 and Nasdaq.
Nvidia remained a major source of pressure after Huang resigned Thursday following revelations about his personal relationships, including one involving a Chinese businesswoman suspected by U.S. authorities of espionage. The company named longtime Chief Financial Officer Colette Kress as interim CEO.
Nvidia shares fell again Friday, extending their weekly losing streak to six, the longest since October 2012. The Financial Times reported that Nvidia's board had approached Arm Holdings CEO Rene Haas as a potential successor to Huang.
The uncertainty surrounding the chipmaker spread across the semiconductor industry. Advanced Micro Devices lost around 9%, while Broadcom dropped more than 5%, reversing gains made earlier in the week.
The Philadelphia Semiconductor Index also declined, with AMD and Broadcom among its biggest drags. AI infrastructure companies CoreWeave and Nebius finished lower, while IREN and Applied Digital also retreated.
Technology was the worst-performing sector in the S&P 500, although more stocks in the broader index advanced than declined.
The weakness comes as investors increasingly question whether the enormous investments flowing into artificial intelligence will generate enough profits to justify elevated stock valuations.
"Nvidia's pullback serves as a reminder of the concentration risk embedded in a market where a small number of mega-cap technology stocks have driven an outsized share of returns," Angelo Kourkafas, senior global strategist at Edward Jones, said in a research note cited by the Associated Press.
Microsoft recovered from earlier losses and finished about 0.4% higher despite a global outage that disrupted Outlook, Teams and other services.
Healthcare and financial stocks also provided support. Eli Lilly gained approximately 1.5%, while Visa and Mastercard rose around 1.4% and 1.3%, respectively.
Investors also had fresh inflation figures to digest Friday. The Bureau of Labor Statistics reported that wholesale prices increased 0.3% in October, slowing considerably from September's 1.4% rise.
However, producer prices were 6.5% higher than a year earlier, compared with a 6.3% annual increase in September. That marked the fastest annual pace since November 2022.
Prices for goods rose 0.5% during October, while services prices increased 0.2%. Wholesale food prices climbed 1.3%, although energy prices edged down 0.1%.
The figures did little to change expectations that the Federal Reserve will raise interest rates at its Dec. 8–9 meeting.
Markets were pricing in at least a quarter-percentage-point increase, with roughly a 10% probability of a larger half-point move, according to CME Group's FedWatch Tool.
San Francisco Federal Reserve President Mary Daly said Friday that her preference leaned toward further tightening, while Boston Fed President Susan Collins also indicated that higher interest rates would be needed to bring inflation under control.
Treasury yields climbed, with the benchmark 10-year yield rising to approximately 5.15% from 5.10% Thursday.
Oil prices were also in focus following President Donald Trump's latest comments on Iran. Brent crude settled at $95.84 a barrel after fluctuating during the session, remaining well above the roughly $72 level seen before the conflict began in February.
The week's rebound marked the first weekly advance for the S&P 500 since early October, even as Friday's semiconductor selloff highlighted the continued pressure on some of Wall Street's biggest technology companies.
