FinanceThursday, November 12, 20261 min read

Sharp swings for Nvidia and oil prices weigh on Wall Street

By Stan Choe, Associated Press · Via PBS NewsHour · Published by Everything Blog

In short

Major U.S. stock indices closed lower Thursday after sharp intraday swings triggered by sudden corporate and geopolitical developments. Jensen Huang stepped down as Nvidia's chief executive following a board probe into his relationship with a woman suspected of being a Chinese agent, prompting Chief Financial Officer Colette Kress to take over as interim CEO. At the same time, crude oil prices jumped after President Donald Trump announced on social media that he is no longer pursuing a deal with Iran. These escalating energy costs drove the 10-year Treasury yield up to 5.07%, raising concerns over lingering inflation pressures across the broader economy.

Key points

Leadership turmoil at Nvidia triggered divergent moves across the semiconductor industry,…: Leadership turmoil at Nvidia triggered divergent moves across the semiconductor industry, boosting rivals Broadcom and AMD while hitting AI partners.
Terminated diplomatic efforts with Iran heightened geopolitical uncertainty, leading to s…: Terminated diplomatic efforts with Iran heightened geopolitical uncertainty, leading to sudden upward pressure on global crude markets.
Higher borrowing costs resurfaced as rising oil prices reinforced investor concerns regar…: Higher borrowing costs resurfaced as rising oil prices reinforced investor concerns regarding persistent inflation pressures on Wall Street.

Sources checked by our analysis pipeline: 1

By — Stan Choe, Associated Press Stan Choe, Associated Press Leave your feedback Share Copy URL https://www.pbs.org/newshour/economy/sharp-swings-for-nvidia-and-oil-prices-weigh-on-wall-street Email Facebook Twitter LinkedIn Pinterest Tumblr Share on Facebook Share on Twitter Sharp swings for Nvidia and oil prices weigh on Wall Street Economy Nov 12, 2026 11:05 AM EST NEW YORK (AP) — Big swings for Nvidia's stock price and oil prices are weighing on Wall Street Thursday, but the U.S. market appears to be absorbing them. After falling nearly 1% at the start of trading, the S&P 500 quickly pared its drop to 0.4%. The Dow Jones Industrial Average was down 50 points, or 0.1%, as of 10:15 a.m. Eastern time, while the Nasdaq composite was down 0.6% after trimming its early loss of 1.6%. READ MORE: Nvidia CEO Jensen Huang resigns after his affair raises national security concerns At the center of the action was Nvidia's stock. It plunged as much as 14% at the start of trading following the resignation of Jensen Huang, its CEO, co-founder and face of the brand. The chip company's stock has been sinking since…

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Key Points

Leadership turmoil at Nvidia triggered divergent moves across the semiconductor industry,…: Leadership turmoil at Nvidia triggered divergent moves across the semiconductor industry, boosting rivals Broadcom and AMD while hitting AI partners.
Terminated diplomatic efforts with Iran heightened geopolitical uncertainty, leading to s…: Terminated diplomatic efforts with Iran heightened geopolitical uncertainty, leading to sudden upward pressure on global crude markets.
Higher borrowing costs resurfaced as rising oil prices reinforced investor concerns regar…: Higher borrowing costs resurfaced as rising oil prices reinforced investor concerns regarding persistent inflation pressures on Wall Street.

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AI Analysis

Tone

Negative

In short

Key Points

Leadership turmoil at Nvidia triggered divergent moves across the semiconductor industry,…: Leadership turmoil at Nvidia triggered divergent moves across the semiconductor industry, boosting rivals Broadcom and AMD while hitting AI partners.
Terminated diplomatic efforts with Iran heightened geopolitical uncertainty, leading to s…: Terminated diplomatic efforts with Iran heightened geopolitical uncertainty, leading to sudden upward pressure on global crude markets.
Higher borrowing costs resurfaced as rising oil prices reinforced investor concerns regar…: Higher borrowing costs resurfaced as rising oil prices reinforced investor concerns regarding persistent inflation pressures on Wall Street.

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Finance

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Sharp swings for Nvidia and oil prices weigh on Wall Street

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