# Nasdaq Drops Friday on Nvidia Fallout

> Nvidia's CEO resignation sparks Nasdaq slide but weekly gains hold.
- Title: Nasdaq Drops Friday on Nvidia Fallout · Kiplinger | Shortify
- Summary: Nvidia's CEO resignation sparks Nasdaq slide but weekly gains hold. Nvidia shares fell 2% Friday after CEO Jensen Huang resigned amid allegations of an…
- Keywords: nasdaq, nvidia, jensen huang, producer price index, federal reserve, cisco, anthropic, ipo, semiconductor, earnings report, tech stocks, Kiplinger
- Source: Kiplinger — https://kiplinger.com/investing/stocks/nasdaq-drops-friday-on-nvidia-fallout-but-ends-the-week-up-stock-market-today
- Published: 2026-11-13T21:10:46+00:00
- Read time: 1 min
- Topics: nasdaq, nvidia, jensen huang, producer price index, federal reserve, cisco, anthropic, ipo, semiconductor, earnings report, tech stocks
## Stock Market Opens Mixed
Stocks opened higher Friday after mixed inflation data but turned lower on continued weakness in tech stocks.
## Nasdaq Drops 0.9% Friday
The tech-heavy Nasdaq Composite closed down 0.9% at 25,136 while the S&P 500 fell 0.4% at 7,561.
## PPI Rises 0.3% Month Over Month
The Producer Price Index rose 0.3% from September to October, lower than economists' 0.4% forecast.
## PPI Annual Rate Hits 6.5%
Core PPI rose 0.3% month over month with an annual rate of 5% the highest since January 2023.
## Nvidia CEO Resigns
Nvidia shares fell 2% Friday after Jensen Huang resigned amid allegations of an extramarital affair with a Chinese spy-linked executive.
## Nvidia Earnings Report Next Week
Nvidia's first earnings report without Jensen Huang at the helm is scheduled for release after Tuesday's close.
## Cisco Plunges 6.2%
Cisco Systems dropped 6.2% despite a beat-and-raise quarter, making it the worst S&P 500 stock Friday.
## Anthropic IPO Approaches
Anthropic will price its IPO Wednesday evening and begin trading on Nasdaq under the ticker ANT Thursday.
## Federal Reserve Rate Hike Odds Rise
Futures traders now price a 90% probability of a 0.25 percentage point rate hike by the Federal Reserve in December.
## Key takeaway

Nvidia shares fell 2% Friday after CEO Jensen Huang resigned amid allegations of an extramarital affair with a Chinese spy-linked executive, causing Nasdaq to drop 0.9% but end the week up.