Sharp swings for Nvidia and oil prices weigh on Wall Street
Summary
U.S. stocks fell Thursday as Nvidia shares swung sharply after CEO Jensen Huang resigned and oil prices rose following President Donald Trump’s comments about Iran. The S&P 500 and Nasdaq trimmed their early losses, while rising oil prices pushed the 10-year Treasury yield higher.Key Facts
- Nvidia shares fell as much as 14% early Thursday and were later down 6.1%.
- Nvidia named Chief Financial Officer Colette Kress interim CEO after Jensen Huang resigned.
- Nvidia’s board had announced an investigation into Huang over a relationship with a woman suspected of being a Chinese government agent.
- The S&P 500 was down 0.4%, the Dow was down 0.1%, and the Nasdaq was down 0.6% at 10:15 a.m. Eastern time.
- CoreWeave fell 9% and Micron Technology fell 4.9%, while Broadcom rose 5.3% and Advanced Micro Devices gained 1.8%.
- Brent crude rose to $93.79 a barrel, up 1.1%, after President Donald Trump said he was no longer interested in a deal with Iran.
- The 10-year Treasury yield rose to 5.07% from 4.98% late Tuesday.
- Hong Kong’s Hang Seng index fell 1.3%, while European stock indexes were mixed.
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