Stock Market Today: Wall Street Gives Up Early Gains as Nvidia Turmoil and Persistent Inflation Pressure Investors

Wall Street is turning lower on Friday, November 13, as investors digest another round of inflation data, rising Treasury yields and growing uncertainty surrounding the leadership transition at Nvidia.

The S&P 500 and Nasdaq Composite reversed their early gains, with technology and semiconductor shares leading the decline. The Dow Jones Industrial Average also moved lower as investors reassessed the Federal Reserve’s interest-rate outlook following the latest Producer Price Index (PPI) report.

The October wholesale inflation report delivered a complicated message. Producer prices increased 0.3% month over month and 6.5% year over year, marking the highest annual increase since November 2022. However, the monthly increase was substantially slower than September’s 1.4% rise and slightly below economists’ expectations.

Meanwhile, Nvidia shares extended their decline following the abrupt resignation of CEO Jensen Huang on Thursday. The company has appointed CFO Colette Kress as interim CEO, but investors are questioning what the leadership change means for the world’s most influential AI chipmaker and the broader artificial-intelligence investment cycle.

At approximately 10:16 a.m. ET, Reuters reported the Dow down 0.41%, the S&P 500 down 0.93% and the Nasdaq Composite down 1.42%. Technology stocks were among the biggest sources of pressure.

U.S. Stock Market Today: Major Indexes Turn Lower

The major averages initially showed signs of stabilisation after Thursday’s losses, but selling pressure returned as the session progressed.

November 13 Market Snapshot

Intraday figures are the Reuters-reported market snapshot at approximately 10:16 a.m. ET, not final closing prices.

The Nasdaq is experiencing the greatest pressure because of weakness across semiconductor and AI-related companies. The Philadelphia Semiconductor Index (SOX) was down approximately 5%, with Advanced Micro Devices falling 9.4% and Broadcom declining 5.8%.

AI infrastructure companies were also under pressure:

• CoreWeave (CRWV) fell approximately 10%.
• Nebius Group (NBIS) declined approximately 13.7%.
• IREN, Applied Digital and Core Scientific also traded sharply lower.
• Microsoft slipped approximately 0.6% following a significant disruption affecting Outlook and Teams.

Apple and Meta were among the few major technology companies trading higher, gaining more than 1% each.

Market breadth also deteriorated. Declining stocks outnumbered advancing stocks by approximately 1.53 to 1 on the NYSE and 2.07 to 1 on Nasdaq.

October Wholesale Inflation: PPI Reaches 6.5%, Highest Since November 2022

The latest Producer Price Index report is another important development for investors assessing the Federal Reserve’s next move.

Released by the Bureau of Labor Statistics at 8:30 a.m. ET on November 13, the October report showed that wholesale prices continued increasing, although the monthly pace of inflation slowed considerably.

According to the official Bureau of Labor Statistics release, the Producer Price Index for final demand increased 0.3% in October on a seasonally adjusted basis, following a 1.4% increase in September and a 0.4% increase in August.

On an unadjusted annual basis, final-demand producer prices increased 6.5%, the largest 12-month increase since November 2022.

October 2026 PPI Report: Key Numbers

Core figures exclude food, energy and trade services.

The distinction between monthly and annual inflation is important. Monthly wholesale inflation slowed sharply from September, but the annual rate increased to 6.5%, indicating that producer-price pressures remain elevated.

What Is Driving Wholesale Inflation?

Several categories contributed to the October increase.

1. Food prices moved higher. Final-demand food prices increased 1.3% during October.

2. Core goods remained expensive. Prices for final-demand goods excluding food and energy increased 0.5%.

3. Transportation costs continued rising. Final-demand transportation and warehousing services increased 2%, with truck freight prices climbing 3.9%.

4. Construction costs increased. Final-demand construction prices advanced 1.8%.

There were also areas of relief. Energy prices declined 0.1%, while crude petroleum prices for intermediate demand dropped 10.3% and diesel fuel declined 7.9%.

The report therefore suggests that inflation remains broad enough to concern policymakers, even as certain commodity and energy costs have moderated.

Read the complete October PPI report from the U.S. Bureau of Labor Statistics.

Why Did Stocks Fall Despite a Cooler Monthly PPI Reading?

The October PPI increase was slightly below economists’ forecasts, but that was not enough to reverse the market’s negative direction.

Investors are focusing on the annual inflation figure, which reached its highest level since November 2022, and the fact that core producer prices increased another 0.5%.

The data also need to be considered alongside October’s consumer inflation report, which showed annual CPI at 3.7%.

Together, these releases suggest that inflation remains difficult to control, limiting the Federal Reserve’s ability to ease monetary policy.

Importantly, the October PPI report was not a larger-than-expected monthly inflation shock. The market’s decline reflects a combination of persistent underlying inflation, rising bond yields and significant technology-sector uncertainty.

Nvidia Stock Falls Again: Jensen Huang’s Resignation Continues to Rattle Wall Street

Nvidia is facing another difficult trading session after one of the most significant leadership changes in its history.

On Thursday, November 12, the company announced that Jensen Huang had resigned as president, CEO and a member of its board of directors, effective immediately.

Nvidia appointed Chief Financial Officer Colette Kress as interim CEO while the board begins searching for a permanent successor. Harvey C. Jones was appointed the company’s first independent chairman.

The leadership transition was confirmed in Nvidia’s regulatory filing with the SEC.

Read Nvidia’s official SEC filing announcing the CEO transition.

Nvidia’s Recent Stock Performance

Nvidia shares experienced extreme volatility following the announcement.

The stock initially plunged more than 14% before recovering a substantial portion of its losses and finishing Thursday at $166.19.

On Friday, Nvidia faced renewed selling, declining more than 3% in early trading according to Investor’s Business Daily.

The weakness is particularly important because Nvidia has been one of the largest contributors to the S&P 500’s advance during the artificial-intelligence boom.

Why Nvidia’s Leadership Change Matters

Huang has been closely associated with Nvidia’s strategy, product roadmap and commercial relationships throughout the company’s transformation into a dominant AI infrastructure supplier.

His departure creates several questions:

• Can Nvidia maintain its product-development leadership under a new permanent CEO?
• Will major cloud and AI customers continue their investment relationships without Huang?
• Could competitors benefit if customers reassess their dependence on Nvidia?
• Will leadership uncertainty affect Nvidia’s relationships with international markets and policymakers?

Nvidia has stated that its operations, customer commitments and product roadmaps are expected to continue uninterrupted.

However, the abrupt transition introduces uncertainty at a time when investors are already questioning AI valuations and infrastructure spending.

Nvidia’s Next Major Catalyst: November 17 Earnings

Investors now have another important date approaching.

Nvidia is scheduled to report its fiscal third-quarter 2027 results on Tuesday, November 17, as previously planned.

The earnings announcement and management commentary will be especially important because investors will be looking for clarity on:

• Data-center revenue growth.
• Demand for its latest AI processors.
• Gross-margin expectations.
• Customer spending and supply constraints.
• Capital commitments across the AI ecosystem.
• The leadership-transition process.

Strong earnings could help restore confidence, but disappointing guidance or additional leadership uncertainty could prolong the decline.

Treasury Yields Above 5.1% Add Another Layer of Pressure

Bond yields remain a major concern for equity investors.

The benchmark 10-year U.S. Treasury yield was around 5.14%, while the two-year yield approached 4.88% in Friday morning’s market coverage.

Higher yields increase the discount rate used to value future corporate earnings, which can disproportionately affect high-growth technology companies.

They also increase borrowing costs for businesses, consumers and governments.

The Federal Reserve outlook has become more hawkish following consecutive inflation surprises.

According to Reuters, traders are now fully pricing in at least a 25-basis-point rate increase in December. The implied probability of a larger 50-basis-point increase was approximately 7%.

This represents a meaningful change from earlier expectations that the central bank might begin easing policy.

AI Stocks Face a Broader Selloff Beyond Nvidia

Nvidia’s decline is having consequences across the broader artificial-intelligence ecosystem.

CoreWeave and Nebius are among the companies under pressure because their business models depend heavily on GPU computing demand and significant infrastructure financing.

These companies have expanded rapidly to meet demand from major AI developers and cloud customers. But higher financing costs and questions about the returns on data-center investment are increasingly affecting valuations.

Semiconductor competitors are not immune either. The Philadelphia Semiconductor Index declined approximately 5% during Friday’s early trading, with AMD and Broadcom among the significant decliners.

One important exception is Cerebras Systems.

Cerebras shares surged more than 11% after the company raised its 2026 revenue forecast and announced Microsoft as a customer.

Reuters reported that the company delivered strong third-quarter results and approximately 70% year-over-year growth in core revenue.

This divergence suggests investors are becoming more selective about individual AI companies rather than abandoning the entire technology theme.

The key question is increasingly about which companies can translate AI demand into sustainable revenue, margins and cash flow.

For additional context, see TruthsAndNews.com’s analysis:

From Boom to Bloodbath: How AI’s Spending Crisis Crushed Tech Stocks in Their Worst Week in Over a Year.

Microsoft Faces a Global Outage as Technology Shares Come Under Pressure

Adding to Friday’s technology-sector weakness, Microsoft shares declined following a major disruption affecting its Microsoft 365 services.

Outlook and Teams experienced a service outage lasting more than 12 hours, disrupting access for businesses and individual customers.

Microsoft shares were down approximately 0.6% during Friday morning trading.

The disruption arrives at an inconvenient moment for the company, as investors are already evaluating its cloud infrastructure spending, AI investments and dependence on enterprise software subscriptions.

Although the outage is not comparable in financial significance to Nvidia’s leadership transition, it has added another negative headline to an already difficult session for technology stocks.

What Investors Should Watch Before the Market Closes

Several developments could determine whether Friday’s market decline deepens or stabilises.

Bullish Scenario

If Treasury yields stabilise, the PPI report is interpreted as sufficiently encouraging, and Nvidia finds support following its leadership announcement, the major indices could recover part of their early losses.

Stronger-than-expected technology earnings and continued demand for AI infrastructure could also help improve sentiment.

Bearish Scenario

If the 10-year Treasury yield moves toward 5.2%, inflation expectations remain elevated and Nvidia continues declining, additional pressure could spread across semiconductor shares and high-growth technology companies.

A further deterioration in AI infrastructure stocks could also affect the Nasdaq and S&P 500 because of the sector’s substantial index weighting.

Bottom Line: Wall Street Faces a Difficult Combination of Inflation, Higher Yields and Nvidia Uncertainty

The stock market today reflects a challenging combination of economic and corporate developments.

October’s wholesale inflation report showed producer prices increasing 0.3% month over month and 6.5% annually. Although the monthly increase was lower than September’s 1.4% and slightly below forecasts, the annual figure reached its highest level since November 2022.

At the same time, Nvidia’s unexpected CEO resignation has created fresh uncertainty across the artificial-intelligence industry. The resulting weakness in semiconductors, CoreWeave, Nebius and other AI infrastructure companies is weighing heavily on the Nasdaq and S&P 500.

The rising 10-year Treasury yield is adding further pressure as investors reassess the Federal Reserve’s December interest-rate decision.

The most important upcoming event is Nvidia’s November 17 earnings report, which could provide some clarity on AI demand, the chipmaker’s financial outlook and its ability to maintain confidence during the leadership transition.

For now, investors are facing a market where strong earnings alone may not be enough. Inflation, financing costs, management stability and the profitability of AI investment are becoming equally important factors in determining Wall Street’s next direction.

Disclaimer: This publication is intended solely for informational and journalistic purposes and does not constitute formal financial, investment or legal advice. Market-index figures reflect Reuters-reported intraday levels at approximately 10:16 a.m. Eastern Time on November 13, 2026, rather than final closing prices. Producer Price Index figures are from the official October 2026 U.S. Bureau of Labor Statistics release. Nvidia’s November 12 closing price and percentage change are historical completed-session figures; its November 13 trading remains subject to live market changes. Market conditions, Federal Reserve expectations and company developments may change rapidly. Always verify current market data, review official company disclosures and conduct independent due diligence before making investment decisions.

Sources: U.S. Bureau of Labor Statistics, Reuters, Associated Press, Investor’s Business Daily, MarketWatch, Nvidia SEC filings, Yahoo Finance and TruthsAndNews.com. Market information checked November 13, 2026.

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Nichole Miller

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