Key facts
- Nvidia CEO Jensen Huang resigned on Thursday, November 12, 2026, after reports of extramarital affairs.
- Nvidia shares fell 3% in extended trading after the resignation.
- Senator Tim Scott asked Commerce Secretary Howard Lutnick and Huang to testify over Nvidia developments.
- The 2-year US Treasury yield peaked at 4.8920% and the 10-year at 5.1433% on Friday.
- The dollar was on track for a weekly gain of 0.9%, its biggest in more than a month.
- Brent crude fell more than 0.3% to $95.45 a barrel and US crude to $88.39.
Nvidia CEO Jensen Huang resigned on Thursday, November 12, 2026, after reports of extramarital affairs, including one involving a suspected Chinese spy, according to a Reuters report. The exit came after a week in which the chipmaker was the center of attention across the AI industry.
Nvidia shares fell 3% in extended trading. Shares of its customers also declined, with South Korea's Naver down 2.75% on Friday, November 13, 2026. US Senate Banking Committee Chairman Tim Scott sent letters on Thursday to Commerce Secretary Howard Lutnick and Huang asking them to testify over recent developments at Nvidia.
JPMorgan analysts said in a note that Huang's departure "leaves a vacuum that will be difficult to fill" and that new deals could take longer or require more compensation. Jon Zauderer, Citi's head of specialist sales and a TMT specialist, said competitors such as AMD, Arista and Broadcom could benefit from the fallout.
MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.26% on Friday, reversing part of a 1.3% fall the previous session. South Korea's Kospi rose 2.35% and Japan's Nikkei added 1.4%. Nasdaq futures and S&P 500 futures rose more than 0.2% each, while EUROSTOXX 50 futures fell 0.37%.
US Treasury yields climbed. The 2-year yield peaked at 4.8920% in the early Asian session, and the 10-year yield rose to a three-week high of 5.1433%. Investors saw a 14.5% chance of a 50-basis-point Fed hike in December, up from zero a week earlier, according to the CME FedWatch tool. The dollar was on track for a weekly gain of 0.9%, its biggest in more than a month, and the yen traded close to 160 per dollar.
The Federal Reserve Bank of New York said on Thursday it bought 79.4 billion yen ($497.37 million) in the spot market on July 31, selling euros from the Exchange Stabilization Fund as part of a joint US-Japan intervention this summer to shore up the yen.
Brent crude futures and US crude fell more than 0.3% each to $95.45 and $88.39 a barrel, respectively, after jumping in the previous session following attacks on Saudi energy infrastructure and shipping disruptions through the Strait of Hormuz. Spot gold was up 0.3% at $3,888.01 an ounce.