Nasdaq Composite falls 1.9% as AI stocks slide in Friday trading

Key Facts

The Nasdaq Composite fell 1.9% in trading on Friday, November 13, as technology stocks tied to artificial intelligence declined, according to the Associated Press. The agency said shares of more than half of S&P 500 companies were rising, but losses among technology companies pulled the indexes lower. Nvidia shares fell 4.2% during the session, while Broadcom declined 6.5% and Advanced Micro Devices fell 10.2%. The moves came amid investor concerns about whether AI profits can justify large investments and high valuations. Available figures for Friday's session covered the Composite and these stocks, not the performance of the Nasdaq 100 or Nvidia's share price at a specific time during the day.

The AP linked concern about Nvidia to the stock's decline over several weeks amid fears that the AI sector could slow. The agency said the market's question is whether artificial intelligence "will generate enough profits to justify costly investments and high market values." That assessment puts chipmakers at the center of index moves, as Friday's decline extended from Nvidia to Broadcom and Advanced Micro Devices. By contrast, S&P 500 share trading showed broad gains, but that did not prevent the indexes from falling on technology losses. The available session details did not provide a specific explanation for each company's individual declines.

Against the backdrop of economic data, the U.S. Producer Price Index rose 0.3% from September to October 2026, after a 1.4% increase in the previous month, according to a report published by the Associated Press. On an annual basis, the index climbed 6.5% in October, compared with a 6.3% increase in September, its largest annual rise since November 2022. The reading diverged, with the monthly increase slowing while the annual rate rose, placing price data in the context of investors' monitoring of inflation. Core producer prices, excluding food and energy, rose 0.3% during the month, after 0.7% in the previous month. On an annual basis, core prices increased 5%, unchanged from September.

The agency cited stable energy prices as a factor behind the slowdown in wholesale inflation, while truck freight prices rose 3.9% and food prices increased 1.3% in October. Electronic component prices also climbed 4.2%, and industrial chemical prices rose 3.1% in the same month. The report linked the increase in these component prices to demand from AI data centers. These moves present a mixed picture in the producer data: stable energy prices coincided with increases in food, freight and industry- and technology-related inputs. The October monthly Producer Price Index report was scheduled for release on November 13 at 08:30 a.m., according to the U.S. Bureau of Labor Statistics schedule.

Friday's session followed turbulence in AI stocks on Thursday, November 12, when Reuters, via Investing.com, attributed the decline in U.S. stocks to Nvidia CEO Jensen Huang's resignation and the concern it raised about the AI trade, alongside rising oil prices. Nvidia shares fell 7.6% on Thursday, Reuters reported, and the company announced that Chief Financial Officer Colette Kress would serve as interim chief executive. Nebius shares also fell 17% after the company said 2026 revenue would come in at the low end of its previous forecast, while CoreWeave declined about 7%. In the same session, Amazon shares rose 2.3%, and AMD and Broadcom gained 4.3% and 5.5%, respectively. Reuters said the S&P 500 was less than 3% below its record high, as investors rotated into other, less-owned parts of the market.

Attention turns after Friday's trading to Nvidia's third-quarter fiscal 2027 results, due on November 17. The company scheduled its earnings call for 2 p.m. Pacific time, or 5 p.m. Eastern time. In a technical analysis published by Investing.com on November 13, Nvidia's weighting in the Nasdaq 100 was about 7.5%, and the analysis identified the 28,000-point level, at the 200-day average, as the key level to watch for the rest of the week. The date comes amid a decline in chip stocks during Friday's session and growing questions about returns on AI-related spending. These figures and dates provide context for upcoming market events, while the available evidence did not include a documented figure for the Nasdaq 100's move during the session itself.