US stocks edge lower as Nvidia, oil volatility weighs on sentiment: Stock Market Live Updates

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US stocks edge lower amid tech-led rout.

Dow Jones | Nasdaq | Stock Market Live: US market’s main indexes trade lower on Thursday after Nvidia CEO Jensen Huang’s resignation, which leaves the AI industry without one of its biggest champions.

Wall Street’s stocks trade lower, with the Dow Jones Industrial Average down 89.32 points, or 0.17%, at 52,397.17. The S&P 500 falls 18.56 points, or 0.24%, to 7,600.82, while the Nasdaq Composite drops 106.31 points, or 0.42%, to 25,359.88.

Nvidia leadership shake-up rattles markets
Nvidia shares plunged 10% after CEO Jensen Huang resigned and Chief Financial Officer Colette Kress was named interim CEO. The stock had already fallen 27% from last month’s record high through Wednesday amid concerns about Huang’s future and how the chipmaker would navigate a leadership transition. Wall Street’s immediate reaction on Thursday was to punish stocks across the AI industry, though some of Nvidia’s rivals held up better in hopes of a competitive advantage.

Nvidia leadership shake-up rattles markets

1 New Update

A widespread outage hit Microsoft platforms including Outlook on Thursday, with many users encountering trouble using their email accounts and other errors across the tech giant's suite of apps.


Nearly 130,000 users on outage tracker Downdetector reported problems accessing Outlook just after 1 p.m. ET. New reports have since fallen from that peak, but many said they couldn't send and receive emails, or had trouble loading their inboxes altogether.

A company that owns patents invented by a pair of computer scientists sued Anthropic and OpenAI in Delaware federal court on Thursday for allegedly infringing five patents related to neural networks.

Flinn Artificial Intelligence (AI) Technologies said in the complaints that Anthropic and OpenAI built their businesses on the "reasoning, retrieval, memory, coding, agentic, and multimodal capabilities" included in Steven Flinn and Naomi Moneypenny's patents

SpaceX and Tesla are progressing in their merger negotiations and a deal could be announced as early as December, Bloomberg News reported on Thursday, citing people familiar with the matter.

US Treasury yields rose on Thursday after US President Donald Trump said the US does not need a deal with Iran and as traders weighed the chance of a larger-than-usual Federal Reserve rate hike next month. US Treasury yields rose on Thursday after US President Donald Trump said the US does not need a deal with Iran and as traders weighed the chance of a larger-than-usual Federal Reserve rate hike next month.

The top Democrat on the Senate Armed Services Committee said Thursday he wants Congress to review if Nvidia is "too big to fail" and whether it would impact the US banking and credit markets.

Ousted Nvidia CEO Jensen Huang had an intimate relationship with a second employee, according to two people familiar with the matter, Reuters has learned.

The revelation follows two other extramarital affairs that led to his resignation Thursday. The two women are Alice Huang, who US intelligence suspects of being a Chinese spy, and Kimberly Powell, Nvidia’s vice president of health care.

Gold prices slid 3% on Thursday, extending losses for a third straight session to hit a more-than-one-year low, as oil prices climbed on fading hopes for peace in the Middle East that spurred fears of higher inflation and elevated interest rates.


Spot gold dipped 2.7% to $3,880.93 per ounce by 1:53 p.m. ET (1855 GMT), having touched its lowest level since October 2025 earlier in the session.

San Francisco Federal Reserve President Mary Daly on Thursday said she feels the central bank will likely need to raise interest rates further to deal with elevated inflation, but did not suggest it should be in a hurry about it.


"My bias is that further tightening will be needed," Daly said at the Stanford Institute for Economic Policy Research, adding price pressures are spreading beyond energy and goods and into services, where inflation can be very sticky.

The Trump administration says it has returned more than $12 billion, or almost 99%, of the revenue obtained from the sales of Venezuelan oil since it ousted then-President Nicolás Maduro in January.


In a report released Thursday by the State Department, the accounting firm KPMG said the sales of Venezuelan crude, along with minor amounts of gold, minerals and fertilizer, produced $12.26 billion. Almost all of the money has been returned to Venezuela under the terms of a broad energy deal reached with the country's interim authorities, according to the report.

The Federal Reserve will use its October 2027 meeting to discuss broader monetary-policy strategy without holding a rate vote, as Chair Kevin Warsh seeks to reduce the central bank’s market footprint, according to CNBC's report. The Fed will hold seven voting meetings that year, with the final one moved from December to November.

Prediction markets startup Kalshi has ended its advisory contract with Donald Trump Jr, after his venture capital firm 1789 Capital increased its stake in arch-rival Polymarket, according to a Kalshi spokesperson.

"We have mutually agreed to end Don's advisory role after his firm's significant investment in a competitor this past summer. We are grateful for his contributions in helping us market Kalshi to more customers," the spokesperson said, adding that the decision was mutual and the conversations to end the contract started in August since 1789 led Polymarket's most recent funding round.

The yield on 30-year US Treasury bonds rises 9.64 basis points to 5.445% following the auction.

The New Jersey-based neocloud provider falls nearly 7%, a day after surging 25% on better-than-expected third-quarter results.

Gold prices slid 3% on Thursday, extending losses for a third straight session to hit a more-than-one-year low, as oil prices climbed on fading hopes for peace in the Middle East that spurred fears of higher inflation and elevated interest rates.

Spot gold dipped 2.9% to $3,871.31 per ounce by 12:30 p.m. ET (1730 GMT), having touched its lowest level since October 2025 earlier in the session. US gold futures for December delivery fell 3.2% to $3,872.00 per ounce.

Family Dollar reached a $63 million settlement with the US Federal Trade Commission and 17 states of allegations that the discount retailer overcharged shoppers, including by charging more at the register than it advertises on its website and mobile app.

According to settlement papers filed on Thursday in the Norfolk, Virginia federal court, Family Dollar will offer $40 million of restitution and $20 million of future discounts to eligible shoppers, and pay $3 million to the states.

The International Monetary Fund said on Thursday that it believes the US Federal Reserve needs to maintain a restrictive policy stance to bring inflation back down to the 2% target and supports the Fed's focus on price stability.


IMF spokesperson Julie Kozack told a regular news briefing that US inflation was not being driven by wage growth, but by high energy prices and the ongoing AI investment boom. She said it was too early to determine whether recent developments and stock price volatility in the AI sector would ease inflationary pressures.

Federal Reserve Bank of Chicago President Austan Goolsbee said Thursday the latest round of inflation data is not moving in the right direction.
Referring to the release earlier in the week of the October Consumer Price Index inflation data, Goolsbee said in a Yahoo Finance interview that “we're way above the target, and this wasn't a one-off month." With inflation now being seen in areas beyond those impacted by things like tariffs, the central banker said, “It's worth being sober-minded at a moment like this…We're inching our way into a territory that's...historically a tough spot for any central bank to try to get rid of that inflation.”

Sales of previously occupied U.S. homes slumped in October to their slowest pace in more than 16 years as mortgage rates climbed sharply, ratcheting up borrowing costs for aspiring homebuyers.
Existing home sales fell 5.5% last month from September to a seasonally adjusted annual rate of 3.75 million units, the National Association of Realtors said Thursday. That’s the slowest annual sales pace since August 2010, when the market was still reeling from the late-2000s U.S. housing crash.

Sales sank 8.8% compared with October last year. The latest sales tally fell short of the 3.8 million pace economists were expecting, according to FactSet.

The US government will spend up to $4.9 million to prepare for clinical trials of psychedelic drug ibogaine as a possible treatment for veterans with post-traumatic stress disorder (PTSD), Health Secretary Robert F. Kennedy Jr. said on Thursday.
President Donald Trump had allocated $50 million in April for research into ibogaine.

* The mental health condition can develop after a traumatic event, causing symptoms such as flashbacks, anxiety, nightmares and heightened stress responses

Big swings for Nvidia's stock and oil prices hit Wall Street Thursday, but the US market appears to be absorbing them.

Copper prices dropped to four-month lows on Thursday as the market fretted about weak demand, partly due to trouble in the AI industry, and expectations of US interest rate hikes that could mean further gains for the dollar.

The selloff accelerated after the New York open on news that Nvidia CEO Jensen Huang is stepping down, leaving the artificial intelligence industry without its biggest champion.

Advanced Micro Devices shares rose 7% as investors bet the chipmaker could gain a competitive advantage following leadership turmoil at rival Nvidia.

Nvidia interim CEO wasn’t someone who set the agenda on the company’s major decisions, The Information reported.

Retail investors bought a net $111 million of Nvidia shares in the first 30 minutes of trading, marking the stock’s biggest opening bid on record, according to Vanda Research.

US President Donald Trump said on Thursday that former Apple Inc Chief Executive Tim Cook should replace Jensen Huang as the CEO of Nvidia.


"NOW THAT Nvidia CEO JENSEN HUANG, who has done a fantastic job, has resigned, there is only one man to take his place - TIM COOK of Apple," Trump said on social media. "A Legend replaces a Legend!" he added.

Nvidia (NVDA) shares pared losses to about 5% after plunging 13% at the open. The selloff followed the AI chipmaker’s announcement that CEO Jensen Huang had resigned with immediate effect.

The company’s market value remained below $4 trillion, with the stock down roughly 30% over the past month.

OpenAI has raised $15 billion in fresh funding at a $1.25 trillion valuation, CNBC reported.

A coalition of online safety and consumer advocacy groups on Thursday sued five of the world’s leading artificial intelligence companies to halt further development, alleging the tech giants can’t prevent their own creations from causing “catastrophic” harm.


The lawsuit in San Francisco Superior Court follows a midterm election that could bring a moment of reckoning for the fast-moving AI industry, as Democrats who won back control of Congress stress the need to regulate the technology.

The number of Americans filing new claims for unemployment benefits increased last week, but remained at a level consistent with a stable or even strengthening labor market, allowing the Federal Reserve to focus on fighting inflation.

Economists expect layoffs to remain low through the end of the year, though seasonal volatility related to the holiday season could cause some spikes in the claims data. The government last week reported a surge in nonfarm payrolls in October and a decline in the unemployment rate to 4.1% from 4.2% in September.

US retailer Costco sees room to expand its technology presence in India beyond Hyderabad as it accelerates international growth, with its first global capability centre playing a key role in artificial intelligence and cybersecurity, a top executive said.

Shares of AI giant Nvidia tumbled 13% on Thursday after CEO Jensen Huang announced his resignation from the company, stepping down as president, chief executive officer and a member of its board with immediate effect.

Read More: Nvidia shares plunge after Huang resigns

The Dow Jones Industrial Average fell 58.5 points, or 0.11%, at the open to 52,427.94. The S&P 500 fell 68.5 points, or 0.90%, at the open to 7,550.84​, while the Nasdaq Composite dropped 374.1 points, or 1.47%, to 25,092.109.

Keurig Dr Pepper said on Thursday it plans to raise $2 billion through an underwritten public stock offering, as the beverage maker seeks to reduce debt ahead of its planned breakup into two publicly traded companies early next year.

Alice Huang, the alleged Chinese spy at the heart of a scandal at chipmaker Nvidia , left Singapore in February and was barred from re-entering following an investigation into possible offences, Singapore's home affairs ministry said on Thursday.


Nvidia said on Thursday that CEO Jensen Huang is stepping down, as pressure has mounted on him in recent days after reports said the 63-year-old, who is married, had an affair with Alice Huang, who US authorities suspect of spying for Beijing.

Nvidia CEO Jensen Huang has resigned, and Collette Kress has been appointed interim chief executive.

US Trade Representative Jamieson Greer told CNBC on Thursday that the United States is still concerned about Nvidia, as the world's dominant supplier of AI chips grapples with fallout from reports of two extramarital affairs involving its longtime leader.


"Obviously we remain concerned," Greer said in an interview.

Michael Saylor’s Strategy fell 4.3% in premarket trading after MSCI said it would remove the bitcoin-focused company’s shares from its global indexes.

Semiconductor and AI-linked stocks fell in premarket trading, threatening to erase the previous session’s gains as volatility continued to grip the AI trade. Intel, Marvell Technology and Micron lost between 1.9% and 2.8%, while CoreWeave dropped about 6%. Nebius was flat ahead of its quarterly results, Tesla slipped 0.3% and Amazon gained 0.3%.

Investors are looking to Friday’s Producer Price Index for fresh clues on inflation after consumer prices rose more than expected last month. Lower oil prices in November have eased some price-pressure concerns, though Middle East tensions remain a risk. Traders fully expect a Federal Reserve rate hike in December and see a roughly 10% chance of a larger 50-basis-point increase, according to the CME FedWatch tool.

Nvidia shares fell 6% in premarket trading following reports of two extramarital affairs involving longtime CEO Jensen Huang, prompting investors to weigh the potential fallout from any leadership change at a company central to the AI boom. Terri-Leigh Bennett, chief operating officer at CMS Prime, said the controversy poses an unusually difficult challenge for investors who have concentrated capital in companies viewed as indispensable to the AI economy.

Nasdaq 100 futures led Wall Street lower on Thursday after Nvidia shares plunged on reports that its board was considering removing CEO Jensen Huang, rattling sentiment across AI-linked stocks. At 5:32 a.m. ET, Dow E-minis rose 61 points, or 0.12%, while S&P 500 E-minis fell 24.25 points, or 0.31%, and Nasdaq 100 E-minis dropped 181 points, or 0.64%.