Nasdaq gains 2.3% for the week despite Nvidia’s 12.8% drop in its worst week since April 2025
Key Facts
The Nasdaq Composite rose 2.3% in the week ended November 13, 2026, a gain of 556.85 points, despite falling 0.9% in Friday’s session, according to the Associated Press. The weekly gain came alongside broader advances on Wall Street, with the S&P 500 up 2.5% and the Dow Jones Industrial Average up 2.1%, while the Russell 2000 rose 1.3%. But technology stocks were the biggest source of pressure on the market in the final session, as Nvidia shares resumed their decline. The stock lost 12.8% over the week, its worst weekly performance since the selloff that followed “Liberation Day” in April 2025, according to Reuters. Attention focused on the company after CEO Jensen Huang’s resignation, announced the day before Friday’s decline.
Nvidia’s weekly drop came amid a sudden leadership change, after Reuters reported that the stock fell 7.6% on Thursday, November 12, following Huang’s resignation and investor concerns about its impact on the artificial intelligence industry. Chief Financial Officer Colette Kress took over as interim CEO, according to the report. Kathleen Brooks, research director at XTB, said Huang had been central to the company’s strategy and that his departure had left a void, adding: “This leaves the company without a rudder. He was so central to its strategy, and this highlights the size of the void there.” The sector’s weakness showed pressure spreading to other companies: the Philadelphia Semiconductor Index fell 1.3% in Thursday trading. Shares of Intel, Marvell Technology and Micron fell between 2.8% and 4.2% in the same session, according to Reuters.
Alongside the leadership change, political scrutiny intensified over exports of Nvidia’s advanced chips to China. Senior members of the Senate Finance Committee said in a letter dated November 12 that they were opening an investigation into the Trump administration’s approval of artificial intelligence chip exports to Chinese companies and the imposition of taxes on those exports. They wrote that they were investigating “the Trump administration’s scheme to approve and tax exports of advanced Nvidia artificial intelligence chips.” House Democratic Minority Leader Hakeem Jeffries also called for a full congressional briefing on the matter and backed restrictions on U.S. chip sales to China as part of the annual defense bill, according to Reuters. These developments put the leadership future and export policy at the center of investors’ focus on the company, as the stock recorded its steepest weekly loss since April 2025.
Nvidia’s importance to index movements stems from its central position in the technology and artificial intelligence sectors; the Associated Press described technology shares as the market’s biggest source of pressure Friday, noting that the company’s stock continued to fall after Huang’s resignation. In Thursday’s session, Reuters linked the stock’s decline to investor concerns about the impact of his departure on the artificial intelligence industry, while semiconductor losses spread to companies including Intel, Marvell and Micron. For the week, these pressures did not prevent the Nasdaq from posting a gain, while advances in the S&P 500, Dow and Russell 2000 showed that the rally extended beyond major technology companies. Friday’s move, however, highlighted the contrast between the weekly result and the final session’s performance, with the Nasdaq falling as technology shares led market pressure. Nvidia remained at the center of these developments as its stock decline coincided with the leadership transition and the chip export investigation.
Investors were awaiting U.S. producer price data for October, scheduled for release Friday, November 13, at 08:30 a.m. Eastern Time, according to the Bureau of Labor Statistics calendar. Reuters linked anticipation of the data to the formation of inflation expectations, after earlier data during the week showed consumer prices rose more than expected in the previous month. Nvidia’s next key date is the announcement of results for its fiscal third quarter of 2027, which ended on October 25; the company had scheduled its earnings call for November 17 at 2 p.m. Pacific Time. On the same date, Federal Reserve Chair Kevin Warsh is scheduled to deliver remarks, according to the U.S. central bank’s calendar. These dates put the company’s results and the Fed chair’s appearance on next week’s calendar, alongside continued investor attention to the leadership transition and investigations related to chip exports.