Wall Street ends mixed as Nvidia sell-off spreads to chip stocks
Photo: Reuters (file photo)Wall Street ended a turbulent week on a mixed note Friday, as the sell-off in Nvidia spread across the semiconductor sector and dragged the tech-heavy Nasdaq lower — even as all three major indexes held on to their best weekly gains since August.
The Dow Jones Industrial Average rose 50.46 points, or 0.10%, to close at 52,347.55. The S&P 500 fell 30.73 points, or 0.40%, to 7,561.67, and the Nasdaq Composite dropped 229.82 points, or 0.91%, to 25,136.27.
Nvidia shares fell 2% to $162.85, a second straight daily loss since co-founder Jensen Huang resigned as chief executive on Thursday. The stock has lost about 13% this week — its worst weekly decline since April 2025 — wiping roughly $573 billion off the company's market value, its largest weekly loss on record. Nvidia's market value is back below $4 trillion.
The selling spread to the chipmakers that had looked like winners from Nvidia's turmoil just a day earlier. The Philadelphia Semiconductor Index fell 3.4% on Friday. Advanced Micro Devices, which had surged after Huang's exit, tumbled 8.8%, erasing about $84 billion of its market value. Broadcom fell 4.8%, Intel and Micron each lost 2.5%, and Dell dropped 7.2% after a report traced servers built with restricted Nvidia chips to a Shanghai data center. HSBC downgraded Nvidia to hold on Friday, saying the stock will languish until the board names a permanent chief executive. The Financial Times reported that Nvidia's board has approached Arm Holdings chief executive Rene Haas in its search for a successor.
For the week, though, the broader market still came out ahead. The S&P 500 rose 2.5%, its biggest weekly gain since August, the Nasdaq added 2.3% and the Dow gained 2.1%. The S&P 500 and Nasdaq both snapped four-week losing streaks. More than 60% of the stocks in the S&P 500 rose on Friday, and Apple climbed to a record closing high.
"Traders probably weren't excited about carrying positions into the weekend," said Chuck Carlson, chief executive of Horizon Investment Services in Hammond, Indiana. "A lot of attention is still going to be paid next week to Nvidia." The company reports quarterly results on Tuesday, its first earnings report under interim chief executive Colette Kress.
Investors also digested Friday's producer price report, which came in slightly cooler than expected but still showed wholesale inflation running hot: the Producer Price Index rose 0.3% in October from the month before and 6.5% from a year earlier, the largest annual increase since November 2022. It followed a hotter-than-expected consumer price reading earlier in the week.
That has traders betting the Federal Reserve will move faster on interest rates. Fed funds futures now price an 11% chance of a larger-than-usual half-point rate hike at the Fed's December 8–9 meeting — a probability that was zero a week ago, according to CME Group's FedWatch tool — and rising odds of quarter-point hikes at each of the next three meetings. Two-year Treasury yields posted their largest weekly increase in over two years, the 10-year yield held above 5.1%, and the dollar index rose for a fourth straight day to 103.40, its highest since April 2025.
"Inflation is stubbornly high and the Fed's going to need to act a little bit quicker and a little bit more aggressively," said Molly Brooks, U.S. rates strategist at TD Securities.
Airline shares dropped late in the session after the Federal Aviation Administration issued a national ground stop of all departing flights, citing extraordinary circumstances and serious air traffic control communications issues. The NYSE Arca airline index closed down 1.4%. A global outage of Microsoft Outlook and Teams was easing on Friday after more than 24 hours of disruption, though the company said it still had no timeline for a full recovery.
Sources: Reuters, "Stocks mostly ease with tech, Nvidia concerns; airline shares fall late in session" (Nov. 13, 2026, full text verified); The Wall Street Journal, "U.S. Stocks Mixed on Nvidia Fallout Fears" (Nov. 13, 2026, verified); MarketWatch, "AMD and other chip stocks slide as Wall Street rethinks the AI trade without Jensen Huang" (Nov. 13, 2026, verified).
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