Stock market today had one story above all others: Nvidia, the chipmaker at the heart of the AI boom, said co-founder Jensen Huang resigned as president, CEO and director, effective immediately. Nvidia shares fell as much as 14% before recovering much of the drop, and all three major U.S. indexes closed lower on Thursday, Nov. 12, 2026, as Treasury yields and oil prices climbed at the same time.
Here is what happened, the numbers that matter, and what investors are watching next.
Stock Market Today: How the Dow, S&P 500 and Nasdaq Closed
The selling was broad but orderly. According to closing figures reported by Eurasia Business News and Vista Partners, which matched point for point:
| Index | Close | Change |
|---|---|---|
| Dow Jones Industrial Average | 52,297.09 | -189.40 (-0.36%) |
| S&P 500 | 7,592.40 | -26.98 (-0.35%) |
| Nasdaq Composite | 25,366.09 | -100.10 (-0.39%) |
| Russell 2000 | 2,799.06 | -47.20 (-1.66%) |
The bigger damage was under the surface. Small caps in the Russell 2000 fell about four times as hard as the large-cap indexes, a sign that rising borrowing costs are weighing most on companies that depend on credit. Wall Street’s fear gauge, the CBOE Volatility Index (VIX), rose nearly 7% to 18.70, per Vista Partners.
The losses came one day after a strong rebound. On Wednesday, Nov. 11, the S&P 500 gained 1.3% and the Nasdaq Composite jumped 1.6%, according to a Zacks market recap. If you missed our coverage of the earlier inflation-driven slide, see how a hot CPI report pushed the 10-year yield near 5%.
Why Nvidia Shares Fell After Jensen Huang’s Exit
Nvidia announced that Huang, who co-founded the company in 1993 and led it into the most valuable chip business in the world, had stepped down from all of his roles. Chief Financial Officer Colette Kress becomes interim CEO and will keep her finance duties while the board searches for a permanent successor. Longtime director Harvey C. Jones becomes the company’s first-ever board chair.
Reports of the exit came amid what Eurasia Business News described as “mounting scrutiny over his personal relationships” and reported board deliberations about removing him. That outlet noted that the confirmed corporate action was a resignation, not an announced dismissal. Nvidia has not publicly detailed the reasons, and some reports circulating online have not been independently confirmed, so investors should be cautious about headlines that go further than the company’s statement.
The company said operations, customer commitments and the product roadmap were expected to “continue without interruption,” according to Vista Partners.
The share-price math
- Nvidia closed at $166.19, down $7.54 or 4.34%, citing CNBC’s closing quote.
- At the worst point of the session, the stock was down as much as 14%.
- Citigroup analysts Atif Malik and Papa Sylla cut their price target from $285 to $225, according to a Wall Street Journal report cited by Eurasia Business News.
Recovering roughly two-thirds of an intraday plunge suggests buyers still believe in Nvidia’s business, even as they price in leadership risk. Fundstrat’s Tom Lee told clients the firm is “sticking with the thesis that Technology stocks bottomed last week,” and that Huang’s exit “does not change our view,” according to Stocktwits.
Not everyone is so calm. Argent Capital’s Jed Ellerbroek called the moment a potential “golden opportunity” for rivals and big customers such as Amazon, Google, AMD and Broadcom to push their own chip designs. AMD and Broadcom shares both rose on Thursday.
Treasury Yields Hit 5.10% and Oil Jumps: The Macro Squeeze
Nvidia was not the only headwind. The 10-year Treasury yield closed at about 5.10%, up roughly 10 basis points, according to Vista Partners. Higher yields make borrowing more expensive for companies and homebuyers and make bonds more competitive with stocks.
Oil added to the pressure:
- Brent crude settled at $95.82 a barrel, up 3.3%.
- WTI crude settled at $88.74, up about 2.6%.
Traders reacted to fresh Middle East tension. President Trump posted that the U.S. no longer needs a deal with Iran, according to Stocktwits and Vista Partners, while Eurasia Business News, citing Reuters, pointed to attacks on Saudi energy infrastructure and shipping disruption near the Strait of Hormuz.
Gold and bitcoin both slipped. Spot gold fell roughly 3% to near $3,877 an ounce, and bitcoin dropped about 3.8% to around $71,500, per Vista Partners.
The inflation backdrop
This all lands days after the October Consumer Price Index showed headline prices up 0.4% for the month and core prices up 0.3% for a third straight month, according to the Bureau of Labor Statistics. Initial jobless claims rose 9,000 to 200,000 for the week ended Nov. 7, slightly above the 195,000 forecast. Sticky inflation plus a still-solid labor market is why some traders are betting on more Federal Reserve tightening rather than rate cuts.
Other Stocks Moving Today
- Super Micro Computer (SMCI) fell about 11% after a Bloomberg report about a probe into whether its products were smuggled to China.
- Cerebras (CBRS) jumped roughly 13% after hours on record third-quarter revenue and a strong fourth-quarter forecast.
- Tesla (TSLA) closed higher on reports that merger talks with SpaceX could produce an announcement as soon as December.
- CoreWeave (CRWV) bonds climbed after earnings eased debt worries.
- Tetra Tech (TTEK) rose nearly 10% early after beating earnings estimates, while Corteva (CTVA) fell more than 9% on a revenue miss.
What This Means for Your Money
For everyday investors, Thursday was a reminder of how concentrated the market has become. When one company is as large as Nvidia, a single leadership headline can move index funds that millions of people hold in their 401(k)s.
A few practical takeaways:
- Check your concentration. If you own an S&P 500 or Nasdaq fund plus individual AI stocks, you may hold more Nvidia than you think.
- Watch yields, not just stocks. A 10-year yield above 5% affects mortgage rates, car loans and credit cards.
- Avoid headline trading. The stock recovered most of a 14% drop in a single session. Panic selling at the low would have locked in a much bigger loss.
Our recent weekly stock market recap explains why the Nasdaq had already slipped into correction territory before this week.
What’s Next for the Stock Market
The next big checkpoint is Nvidia’s fiscal third-quarter earnings report on Nov. 17. Investors will listen closely for comments from interim CEO Colette Kress on demand, the product roadmap and the timeline for naming a permanent chief executive.
Beyond Nvidia, markets will track oil and Middle East headlines, any movement on a Tesla and SpaceX deal, and whether the 10-year yield holds above 5%. Stock futures were edging higher after Thursday’s close, with Dow futures up about 40 points, according to Stocktwits, a sign that some traders see the selloff as overdone.
This article is for informational purposes only and is not investment advice. Figures are from published closing reports and may be revised.
Stay with USA One News for daily stock market today coverage and our full breakdown of Nvidia’s earnings next week.
