US stocks fell on Thursday, November 12, 2026, after Nvidia announced that Jensen Huang had resigned as chief executive, while a higher oil price and a 10-year Treasury yield back above 5% added to the pressure. The S&P 500 lost 0.35% to 7,592.40 after recovering from an early drop of nearly 1%, the Nasdaq Composite fell 0.39% to 25,366.09 and the Russell 2000 dropped 1.66%. Europe’s STOXX 600 closed at a record. Asia is mixed this morning, and the main data release today is US October producer prices at 13:30 UTC. Data cut-off: 07:50 UTC (09:50 in Bucharest); some Asian markets were still trading and the AP figures below date from about 05:37 UTC, so prices may have moved since. The US cash market opens at 14:30 UTC (16:30 in Bucharest). Previous edition: Thursday, November 12.
Thursday’s closes and Friday in Asia
| Index | Close | Change on the day |
|---|---|---|
| S&P 500 (Thu) | 7,592.40 | -26.98 points (-0.35%) |
| Dow Jones Industrial Average (Thu) | 52,297.09 | -189.40 points (-0.36%) |
| Nasdaq Composite (Thu) | 25,366.09 | -100.10 points (-0.39%) |
| Russell 2000 (Thu) | 2,799.06 | -47.20 points (-1.66%) |
| STOXX Europe 600 (Thu) | 664.01 | +0.14%; record close (Cappnotes, Saxo) |
| DAX (Thu) | 26,771.88 | +0.41% (Cappnotes; Saxo shows 26,772) |
| FTSE 100 (Thu) | 10,863.09 | +0.25% (Cappnotes; Saxo shows 10,863) |
| CAC 40 (Thu) | 8,361.36 | +0.34% (+28.49 points) |
| Nikkei 225 (Fri, close) | Level not confirmed | +0.54% at the close (Investing.com); AP showed +0.8% to 61,283.16 earlier in the session |
| Kospi (Fri, mid-session) | 5,317.05 | -0.5% (AP) |
| Taiwan Taiex (Fri, mid-session) | Level not given | +1.7% (AP) |
| Shanghai Composite (Fri) | 3,663.71 | +0.2% (AP) |
| ASX 200 (Fri) | 9,084.80 | -0.7% (AP) |
| Hang Seng (Fri, morning) | 23,786.48 | -0.9% (AP); Thursday close about 24,009, -1.3% (Saxo) |
Sources: the US closes are from AP (La Nacion table) and match Cappnotes and Investing.com. European closes: STOXX 600, DAX and FTSE 100 from Cappnotes and Saxo; the CAC 40 from ad-hoc-news, with the same percentage move on Investing.com. Asia: AP (published about 05:37 UTC), except the Nikkei, which is from Investing.com. The Asian figures other than the Nikkei are AP only. The Nikkei level is not shown because Investing.com gave only the percentage; other reports showed larger intraday gains, so the sources differ on the size of the rise. These are market-data summaries, not official exchange data.
Rates, oil, gold and currencies
| Market | Wednesday close | Thursday close | Friday morning |
|---|---|---|---|
| US 10-year Treasury yield | Bond market closed (Veterans Day) | About 5.10% (Cappnotes, Kitco) | Not confirmed |
| US 2-year yield | Closed | 4.77% to 4.88% (sources differ) | Not confirmed |
| US 30-year yield | Closed | 5.43% to 5.45% (Cappnotes, Saxo) | Not confirmed |
| WTI crude | $86.53 | $88.74 settle (+2.55%) | $88.41 (-0.4%, AP) |
| Brent crude | $92.76 | $95.82 settle (+3.30%) | $95.70 (-0.1%, AP) |
| Gold | About $3,980 to $4,000 | $3,876 spot (Kitco) to $3,885 futures (Cappnotes); about -2.8% | About $3,880 (Saxo) |
| Dollar index (DXY) | 102.92 | 103.19 (+0.27%, Cappnotes) | Not confirmed |
| EUR/USD | 1.1088 | About 1.1055 (AP) | 1.1059 (AP) |
| USD/JPY | 159.81 | About 159.84 (Saxo, AP) | 159.91 (AP) |
| VIX | 17.49 | 18.69 to 18.70 (+6.9%) | Not applicable |
| Bitcoin | About $74,440 | About $71,503 (-4.03%, Cappnotes only) | Not confirmed |
Thursday figures are from Cappnotes, Kitco (5:16 p.m. ET), Saxo and Investing.com; Friday figures are from AP and Saxo. Wednesday figures repeat our previous edition. Yields, gold and currencies differ by source, contract and time of day, so we show ranges where sources disagree; we could not resolve the gap between sources on the 2-year yield.
What moved markets
Nvidia’s chief executive resigns. Nvidia said on Thursday that Jensen Huang resigned as president, chief executive and board member, effective immediately. Chief financial officer Colette Kress is interim CEO while remaining CFO, the board is searching for a permanent chief executive, and Harvey C. Jones becomes the company’s first board chair. The release gives no reason for the resignation and says Nvidia will still report third-quarter fiscal 2027 results on Tuesday, November 17 (company release). The shares closed down 4.34% at $166.19, against $173.73 on Wednesday (Investing.com, Cappnotes); that is a smaller fall than the 8.6% after-hours drop that followed press reports on Wednesday. Other chip names moved the other way: AMD rose 5.86% (Cappnotes links this to a William Blair upgrade), Broadcom 5.54% and Arista Networks 5.06%, while Super Micro fell 11.30% and Nebius 16.84% (Cappnotes). Breadth was weak, with 377 S&P 500 members down and 123 up (Cappnotes).
Yields above 5% again. The 10-year Treasury yield rose about 12 basis points to roughly 5.10%, back above 5% for the first time since October 22 according to Saxo (single source), as trading resumed after the Veterans Day holiday. Kitco summarises futures pricing at about an 85% chance of a quarter-point Fed hike and 15% for a half-point hike at the December 8 to 9 meeting, after the hotter October consumer price report (+0.4% overall, +0.3% core, per Kitco). Our previous edition showed 90.8% and 9.2% from CME FedWatch via Reuters, so the odds differ by source and day. Weekly jobless claims rose to 200,000, 9,000 more than the prior week, against 195,000 in a Reuters poll, and existing home sales fell 5.5% to a 3.75 million annual rate, described in the headline as a 16-year low (Reuters via Star-Advertiser). The dollar index rose to 103.19, and Saxo says the Bloomberg dollar index is at an 18-month high. The yen briefly crossed 160 per dollar before closing near 159.84, with intervention talk (Saxo, single source).
Oil and gold. Brent settled up 3.30% at $95.82 and WTI up 2.55% at $88.74 after President Trump said the US does not need a deal with Iran (AP, Saxo). AP notes that Brent was about $72 in late February, before the Iran war began. Brent is down 0.1% at $95.70 this morning (AP). Gold futures fell 2.88% to $3,885.30, the lowest since October 2025 (Cappnotes); Kitco’s spot price was $3,876.40, down 2.77%, with higher yields, a firm dollar and Fed hike bets cited as the drivers. Saxo says gold fell as much as 3.4% to below $3,860 during the day.
Europe. The STOXX 600 rose 0.14% to a record 664.01 while the DAX gained 0.41%, the CAC 40 0.34% and the FTSE 100 0.25%. Headlines from MLQ and Proactive Investors say Burberry and Munich Re offset a chip sell-off and that Burberry led the FTSE 100; we could not read those pages in full, so treat the stock details as unconfirmed.
Asia this morning. Chip stocks were mixed after Nvidia’s announcement. The Nikkei 225 closed 0.54% higher (Investing.com); earlier in the session AP showed Tokyo Electron up 1.5% and SoftBank Group down 5.2%. In Seoul the Kospi was down 0.5%, with Samsung Electronics down 0.7% and SK Hynix down 2%, while Taiwan’s Taiex rose 1.7% with TSMC up 0.9%. The Hang Seng fell 0.9% to 23,786.48 (AP); Saxo adds that the Hang Seng Tech index fell 2.4% on Thursday on concerns over US chip restrictions on Chinese AI firms (single source). US index futures were reported up 0.2% to 0.5% overnight (Stocktwits, 02:37 UTC), but a later FXStreet headline says Dow futures fell on rate-hike fears and the Nvidia shake-up, so the direction is not settled; check live quotes.
Company results after the close. Cisco reported first-quarter fiscal 2027 revenue of $18.5 billion, up 24%, with non-GAAP earnings of $1.40 per share, up 40%. It raised its fiscal 2027 outlook to revenue of $74.8 to $75.8 billion and non-GAAP earnings of $5.47 to $5.53 per share, and declared a quarterly dividend of $0.42 payable January 20, 2027 to holders of record on January 4 (company release). The consensus we cited yesterday was $1.15 per share (Nasdaq via Stocktitan, single source). The shares rose about 3% (Cappnotes) to 4.9% (GuruFocus) after hours. Cappnotes also reports that Cerebras jumped after hours on a third-quarter revenue beat and that Applied Materials traded choppily despite guidance above consensus; we have not confirmed those results with the companies.
Friday, November 13: what is scheduled
| Time (UTC / Bucharest / ET) | Event | Note |
|---|---|---|
| Already out | Asian closes (Japan, Australia, China) | See the table of closes above. |
| 13:30 / 15:30 / 08:30 | US producer price index, October | Consensus: +0.4% on the month overall (Goldman +0.3%, Deutsche Bank +0.2%) and +0.3% excluding food and energy (Goldman +0.2%). September: +1.3% and +0.7% (BLS, as cited by Stocktitan). Year-on-year forecasts differ between sources, so we omit them (Dow Jones consensus via Stocktitan; Goldman and Deutsche Bank via ZeroHedge). |
| 14:10 / 16:10 / 09:10 | Boston Fed President Collins, remarks on the housing market | Single source (ZeroHedge, from a Deutsche Bank calendar); we converted the Eastern times listed there. |
| 15:50 / 17:50 / 10:50 | Fed Vice Chair for Supervision Bowman, Connecticut Bankers Association | Same source; Q&A expected. |
| 17:00 / 19:00 / 12:00 | San Francisco Fed President Daly, UNLV outlook event | Same source. |
| 00:00 Saturday / 02:00 / 19:00 | Fed Vice Chair Jefferson on technology and productivity, UC San Diego | Same source; after the US close. |
| Times not found | Eurozone third-quarter GDP (second estimate) and September trade balance; German October wholesale prices; IEA Oil Market Report; informal EU leaders’ meeting in Dublin | Listed by Newsquawk without times or consensus. |
| During the day | Results: Richemont; Japanese banks MUFG, Sumitomo Mitsui Financial, Mizuho and Japan Post Bank; Singtel; Generali | Richemont per Newsquawk and ZeroHedge; the others per Saxo. We found no consensus figures. |
| During the day | Credit rating reviews: Fitch on Germany, S&P on Italy, Morningstar DBRS on the UK | Newsquawk list; outcomes not yet known. |
Consensus figures and event times come from the single sources noted; confirm them with the issuing bodies.
The next trading days
Nvidia reports third-quarter fiscal 2027 results on Tuesday, November 17, at about 1:20 p.m. Pacific time (21:20 UTC, 23:20 in Bucharest), with its call at 2 p.m. Pacific (company release). Stocktitan lists the October PCE inflation report for November 25 and the November jobs report for December 4. The Fed’s next meeting is on December 8 to 9.
Sources
- Nvidia, NVIDIA Announces CEO Transition (company release) (November 12)
- Cisco, first-quarter fiscal 2027 results (company release) (November 12)
- AP via La Nacion, How major US stock indexes fared Thursday (published 21:23 UTC, November 12)
- AP via WSLS, Asian shares are mixed as investors assess Nvidia’s fallout (published about 05:37 UTC, November 13)
- Cappnotes, Closing Look: Thursday, November 12 (last modified 22:50 UTC, November 12)
- Investing.com, US stocks lower at close of trade (4:30 p.m. ET, November 12)
- Kitco, Gold, silver slide as Treasury yields surge (PM report) (5:16 p.m. ET, updated 5:26 p.m. ET, November 12)
- Saxo, Asia Market Quick Take (November 13, no time shown)
- ad-hoc-news, CAC 40 closes 0.34% higher at 8,361.36 points (23:04, November 12 (time zone not stated))
- Investing.com, France stocks higher at close of trade (November 12)
- Investing.com, Japan stocks higher at close of trade (02:00, November 13 (time zone not stated))
- Reuters via Star-Advertiser, US jobless claims rise as home sales hit 16-year low (published 20:00 UTC, November 12)
- Stocktitan, October 2026 PPI preview (11:03 a.m. ET, November 11)
- ZeroHedge, Key events this week (Deutsche Bank calendar) (week of November 9)
- Newsquawk, Daily Economic Release, 13 November 2026 (15:21 UTC, November 12)
- GuruFocus, Cisco reports Q1 earnings beat, shares rise after hours (November 12)
- Stocktwits, Dow, S&P 500, Nasdaq futures edge higher (10:07 p.m. ET, November 12)
- FXStreet, Dow Jones futures fall amid Fed rate hike fears (headline only; page could not be read) (November 13)
- MLQ, European stocks close higher as Burberry and Munich Re outweigh a chip selloff (headline only; page could not be read) (November 12)
- Proactive Investors, Markets Live (headline only; page could not be read) (November 12)
All market-data summaries and commentary above are from the media and data sites listed and are labelled as such; they are not exchange or company filings, except where a company release is named. Where sources disagree, we show a range or say so.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Figures come from the sources listed, as of the times stated, and may be revised. Market-data summaries can differ slightly from official exchange figures. Confirm current prices with your broker. Investing involves risk, including the possible loss of capital.
