What Nvidia losing its founder did to stocks. The week on Wall Street
What Nvidia losing its founder did to stocks. The week on Wall Street
BenzingaSat, November 14, 2026 at 12:02 PM UTC
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After four straight losing weeks, the artificial intelligence trade finally bounced, and it did so without its figurehead.
Nvidia Corp. founder Jensen Huang resigned as chief executive officer on Nov. 12, days after admitting to a relationship with a woman suspected of spying for China. Chief Financial Officer Colette Kress is interim CEO.
The stock fell as much as 14% at Thursday's open, its lowest since June 2025, and closed down 4.3%. By Friday morning, it was down about 9% for the week, on track for a sixth straight weekly loss, the longest losing streak since 2012.
The rest of the market moved on. Earlier in the week, the Nasdaq 100 jumped 3.4% on Monday, its best day since March, as chip stocks rebounded from last week's 12% rout.
Through Tuesday, Nvidia had lost 18% in five sessions, a steeper slide than during the DeepSeek shock of January 2025. Then came Wednesday's rally: CoreWeave Inc.'s beat-and-raise quarter sent its stock up 25% and the Philadelphia Semiconductor Index 5.7%, lifting the Nasdaq 100 by 2.3%.
By Friday morning, the Nasdaq 100 was up nearly 5% for the week, the S&P 500 more than 3% and the Dow about 2%.
October consumer prices rose 0.4% against a 0.3% forecast, and core prices 0.3% versus 0.2%.
Producer prices rose 0.3%, below forecasts, but the 6.5% annual rate is the highest since November 2022.
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Hours before the CPI, Federal Reserve Gov. Christopher Waller said in London he leaned toward a quarter-point December hike unless the report ran hot. "In that case, I believe a 50 basis point hike in the policy rate should be considered at the December meeting," he said. "Hiking only 25 basis points would put our credibility at risk, a risk I am not eager to take."
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Traders now treat a December hike as a near certainty, up from about 80% odds a week ago, and assign an 11% chance to a half-point move, per CME FedWatch.
Treasury yields climbed all week. The 2-year closed Thursday at 4.86%, its highest since Sept. 30, the 10-year at 5.10%, its highest since Oct. 21, and the 30-year at 5.43%.
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Stellantis hits a new low
Detroit's automakers missed the rebound. Stellantis fell four straight sessions and about 12% for the week to a 52-week low of $3.86 after CEO Antonio Filosa warned on Thursday that raw material and chip costs will climb in 2027 and probably 2028. "For us, Stellantis, this is inflation that we measure in billions of euros," he said in Milan.
Ford Motor Co. lost about 4%. General Motors Co. was flat ahead of its move to the Nasdaq on Tuesday, the same day Nvidia reports its third-quarter fiscal year 2027 financial results.
Benzinga is a financial news and data company headquartered in Detroit.
This article originally appeared on Detroit Free Press: What Nvidia losing its founder did to stocks. The week on Wall Street
Source: “AOL Money”
