# S&P 500 falls, Nvidia sell-off drags down markets

> S&P 500 drops 0.38% as Nvidia plunges 5% amid inflation fears and rate-hike speculation.
- Title: S&P 500 falls, Nvidia sell-off drags down markets · CNBC
- Summary: S&P 500 drops 0.38% as Nvidia plunges 5% amid inflation fears and rate-hike speculation.
- Keywords: s&p 500, nvidia, inflation, rate hike, federal reserve, cpi, treasury yields, stock market, consumer price index, 10-year treasury yield, CNBC
- Source: CNBC — https://cnbc.com/2026/11/09/stock-market-today-live-updates.html
- Author: Sean Conlon,Hugh Leask,Lee Ying Shan,Ananya Chetia
- Published: 2026-11-09T23:05:52+00:00
- Read time: 1 min
- Topics: s&p 500, nvidia, inflation, rate hike, federal reserve, cpi, treasury yields, stock market, consumer price index, 10-year treasury yield, business, finance
## Stocks fall after hot inflation data
U.S. equities dropped as October inflation data exceeded expectations.
## S&P 500 declines 0.38%
S&P 500 closed at 7,520.93, down 0.38% from previous close.
## Dow Jones drops 0.30%
Dow Jones Industrial Average fell 157.86 points to 52,231.89.
## Nvidia plunges 5%
Nvidia stock dropped over 5% following CEO's admission of affair with alleged Chinese spy.
## October CPI rises 0.4%
Consumer price index rose 0.4% in October, exceeding economists' 0.3% forecast.
## Core CPI increases 0.3%
Core CPI, excluding food and energy, rose 0.3% in October, above 0.2% forecast.
## 10-year Treasury yield jumps
10-year Treasury yield rose back above 5% after hotter inflation data.
## Fed Governor Waller hints at rate hike
Fed Governor Christopher Waller says December rate hike is likely and half-point increase possible.
## Nvidia market cap dips below $4T
Nvidia's market capitalization briefly fell below $4 trillion as shares traded near $165.94.
## Investors fear rate hikes
Traders expect at least a quarter-point rate hike next year amid inflation concerns.
## Nvidia CEO's scandal
Nvidia CEO Jensen Huang admitted affair with alleged Chinese spy, triggering board investigation.
## Market reaction to scandal
Nvidia stock dropped 4.3% after CEO's admission of affair with alleged spy.
## Fed's Logan calls for two rate hikes
Dallas Fed President Lorie Logan expects two more rate hikes to quell inflation.
## Trump comments on Huang
Trump says Huang denied knowing affair partner was a spy for China.
## Oil prices fall
U.S. gas prices dropped below $4 a gallon for first time since July.
## Market volatility
Markets experienced sharp swings after Nvidia scandal and inflation data.
## Key takeaway

S&P 500 falls 0.38% to 7,520.93 after Nvidia drops 5% and hotter-than-expected inflation data.