Key facts
- Nvidia's market capitalization fell below $4 trillion as its shares dropped 2% on November 13.
- AMD fell 8.75% to $534.06 and Broadcom dropped 6.2% to $341.74 in the same session.
- Nvidia's board named CFO Colette Kress interim CEO on November 12 while it seeks a permanent replacement.
- The Financial Times reported Nvidia approached Arm Holdings CEO Rene Haas about the role.
- A petition to reinstate Jensen Huang passed 50,000 signatures, with Elon Musk saying he backs it.
- The Nasdaq, S&P 500 and Dow Jones indexes still recorded weekly gains despite Friday's declines.
US stocks fell on Friday, November 13, 2026, with technology and chip shares leading the decline. The Nasdaq Composite ended the session 0.91% lower at 25,136.27, down 29.82 points, according to MarketWatch. The S&P 500 closed 0.40% lower at 7,561.67, a loss of 30.73 points.
The Dow Jones Industrial Average recovered from intraday lows to close 0.10% higher at 52,347.55, a gain of 50.46 points. Despite the session's declines, the Nasdaq, S&P 500 and Dow Jones indexes still recorded weekly gains.
Nvidia shares fell 2% on November 13, extending a decline in the previous session, and the company's market capitalization dropped below $4 trillion. The report attributes the pressure to Jensen Huang's departure from the chipmaker. Nvidia's board appointed Chief Financial Officer Colette Kress as interim CEO on November 12 while it looks for a permanent replacement.
Chipmaker shares fell across the sector. AMD dropped 8.75% to $534.06 and Broadcom fell 6.2% to $341.74.
The Financial Times reported that Nvidia approached Arm Holdings CEO Rene Haas about succeeding Huang. The report said Ian Buck, an Nvidia vice president, is a potential internal contender, and that a petition to reinstate Huang passed 50,000 signatures, with Elon Musk saying he backs it. The report also said US lawmakers will open a probe into Huang's case, citing Nvidia's technology as a national security asset.