# US stocks drop as Nvidia turmoil hits tech sector

> Nvidia CEO Jensen Huang's exit sparks tech sector losses as US stocks fall.
- Title: US stocks drop as Nvidia turmoil hits tech sector | Shortify
- Summary: Nvidia CEO Jensen Huang's exit sparks tech sector losses as US stocks fall. US stocks dropped after Nvidia's CEO resignation caused tech sector declines.
- Keywords: nvidia, jensen huang, us stocks, tech sector, s&p 500, nasdaq, producer prices, fed rates, ai cloud, semiconductor index, The Economic Times
- Source: The Economic Times — https://economictimes.indiatimes.com/markets/us-stocks/wall-street-guide/us-stocks-us-market-opens-higher-after-soft-producer-prices-data/articleshow/135807296.cms
- Published: 2026-11-13T14:45:00+00:00
- Read time: 1 min
- Topics: nvidia, jensen huang, us stocks, tech sector, s&p 500, nasdaq, producer prices, fed rates, ai cloud, semiconductor index, money, business
## Nvidia CEO resignation
Nvidia shares dropped 3.3% heading for their longest run of weekly losses since October 2012.

> Huang resigned following scrutiny of his relationship with a businesswoman suspected by US officials of spying for Chinese intelligence
## Tech sector declines
The Philadelphia Semiconductor Index tumbled 5% with Advanced Micro Devices losing 9.4% and Broadcom falling 5.8%.
## AI cloud stocks fall
AI cloud companies CoreWeave and Nebius declined 10% and 13.7% respectively.
## Market reaction
US stock indexes fell as investors assessed potential fallout from Nvidia's leadership turmoil.
## Producer prices data
October producer prices rose slightly less than expected offering limited relief for Fed rate decisions.
## Market indices drop
The S&P 500 fell 70.60 points to 7,519.10 while the Nasdaq Composite dropped 359.89 points to 25,006.20.
## Investor concerns
Investors remain cautious about geopolitical tensions and oil prices rising for a third consecutive session.
## Key takeaway

US stocks dropped after Nvidia's CEO resignation caused tech sector declines.