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NewsWPLG Local 10November 12, 2026Miami-Dade County

Nvidia stock and oil prices swing on Wall Street amid CEO resignation and Middle East tensions

Photo: WPLG Local 10

U.S. stock indexes fell Thursday morning following a steep drop in Nvidia's stock price after the resignation of its CEO, Jensen Huang, alongside fluctuating oil prices driven by President Donald Trump's comments on Iran. The S&P 500 fell 0.4%, the Dow Jones Industrial Average dropped 50 points, and the Nasdaq composite declined 0.6% as markets absorbed the uncertainty.

Wall StreetStock MarketArtificial IntelligenceOil PricesForeign Policy
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Why It Matters

Market volatility directly impacts investor portfolios, retirement accounts, and broader economic inflation as benchmark s climb to 5.07%.

Key Facts

  • Nvidia's stock plunged as much as 14% at the start of trading following the resignation of CEO Jensen Huang.
  • Nvidia's board named Chief Financial Officer Colette Kress as interim CEO.
  • Nvidia's board had previously announced an investigation into Huang regarding a relationship with a woman suspected of being a Chinese government agent.
  • The S&P 500 pared an initial 1% drop down to 0.4% following early trading.
  • The Dow Jones Industrial Average dropped 50 points, or 0.1%, as of 10:15 a.m. Eastern time.
  • The Nasdaq composite fell 0.6% after paring an early loss of 1.6%.
  • President Donald Trump stated he is no longer interested in a deal with Iran to end their war.
  • Brent crude oil prices rose to over $94 per barrel before easing to $93.79, up 1.1%, following Trump's statements.
  • The yield on the 10-year Treasury climbed to 5.07% from 4.98% late Tuesday due to inflation worries linked to oil prices.
  • Rival chipmakers Broadcom and Advanced Micro Devices saw stock increases of 5.3% and 1.8%, respectively.

Who's Mentioned

OrganizationNvidia“Chip company experiencing stock volatility following CEO resignation.”PersonJensen Huang“Resigned CEO and co-founder of Nvidia.”PersonYuri Kageyama“AP Business Writer who contributed to the report.”OrganizationCoreWeave“Cloud provider buying Nvidia chips that saw a 9% stock drop.”OrganizationAdvanced Micro Devices“Rival chip company whose stock added 1.8%.”OrganizationMicron Technology“Computer memory seller whose stock sank 4.9%.”PersonDonald Trump“U.S. President commenting on Iran and domestic investigations.”OrganizationBroadcom“Rival chip company whose stock rose 5.3%.”OrganizationGE Vernova“Company powering AI data centers that gained 1%.”PersonColette Kress“Chief Financial Officer named interim CEO of Nvidia.”