Market Close: Stocks Lower, Nvidia Falls After CEO Exit, Oil and Yields Rise • 11/12/26

0:00See NBC Business News Update. Market close Thursday. I'm Jessica Ettinger. Wall Street will open Friday morning after the CEO of NVIDIA resigned and major averages finished lower. Oil and bond yields higher Thursday. The rate on the 10-year note topping 5.1%. Let's look at the major averages. The Dow down 189 points, three-tenths of a percent, led lower by shares of NVIDIA, down 4.3 % on Thursday. The S &P 500 index was down 26 points. The Nasdaq fell 100 points. Chipmaker shares were mixed. Broadcom and AMD shares were each up 5%. Companies whose shares hit fresh all-time highs on Thursday include Apple, Johnson & Johnson, Eli Lilly, Costco, Coca-Cola, and Berkshire Hathaway Class B shares.

0:51Embattled NVIDIA CEO Jensen Huang resigning Thursday after last weekend admitting an affair with a woman and apologizing to the company's staff and his family. The government alleges that woman is a Chinese asset or spy. Reports Thursday that there are two more women. CNBC's Megan Casella has more from Washington. That's right, a third reported affair now for Jensen Huang and the second one believed to be with an employee. This is according to Reuters reporting. They cite two people familiar with the matter. Now, in Washington, guys, the fallout from the news of Fong's affair with an alleged spy is only just beginning.

1:27We now expect to see him on Capitol Hill next week testifying in a closed-door meeting with lawmakers. Republican Senator Tom Tillis now is also among a growing group of lawmakers calling for Commerce Secretary Howard Lutnick to also testify before Congress. and the top Democrats on two powerful committees, Senate Finance and House Ways and Means, wrote to Lutnick today to say they are launching an investigation into the administration's scheme, as they call it, to approve and tax exports of NVIDIA chips to Chinese companies with links to the Chinese government, military and sanctioned entities.

1:58NVIDIA's chief financial officer, Colette Kress, has been named temporary CEO at the company. Here's the author of The Thinking Machine, Stephen Witt, with CNBC's Sarah Eisen. Everyone's just kind of sad and surprised that someone so brilliant could do something so dumb. I mean, are you surprised? You know, I've been hearing rumors this year, so I'm not totally surprised. I am very disappointed. You know, it's just a classic tale of masculine hubris, right? A classic tale of overconfidence and believing that you can get away with everything. Until you can't, right? Right. Jensen, he had made the people around him so wealthy.

2:38And so they were very incentivized to protect him. The news on NVIDIA is fast moving. Get the absolute latest on CNBC television, CNBC dot com and the CNBC app on your phone. Cisco shares popped up five percent in after hours trading on Thursday on strong quarterly results. Microsoft with an Outlook outage on Thursday for hours with Amazon Web Services and Google users also reporting issues. Family Dollar paying$63 million to settle claims it overcharged shoppers. The Federal Trade Commission and 17 states accused the retailer of charging more at the register than it advertises on its website and its mobile app.

3:21The Post Office adding shipping surcharges 11 % as diesel prices have soared since President Trump sent U.S. missiles into Iran back in February. The USPS joins FedEx and UPS with new added surcharges. The new contribution limits for retirement accounts are out from the IRS for next year. For a 401k,$1 ,000 increase, you can put in$25 ,500. The IRA limit is unchanged at$7 ,500. For those 50 and older, the catch-up limits are going up for a 401k. you can put in another 8 ,500. People from age 60 to 63 get a super catch-up allowance. They can put in an extra$11 ,750. On Friday's watch list, all eyes on NVIDIA and its next moves and new in theaters, Bleecker Street's Victorian Psycho, Amazon, MGM's How to Rob a Bank, and Paramount's Ebenezer.

4:21It's also Friday the 13th. Jessica Ettinger, CNBC. Hey, Fidelity. What's it cost to invest with the Fidelity app?

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