Markets News, Nov. 12, 2026: Major Stock Indexes Fall as Investors Digest News of Nvidia CEO Jensen Huang’s Exit; AMD, Broadcom Soar

Supermicro Shares Sink Amid Report of DOJ Probe

FROM 1 hr 4 min ago

Shares of Super Micro Computer (SMCI) are sharply lower Thursday afternoon following a report that the server maker and Nvidia partner is the target of a Department of Justice investigation.

Bloomberg News reported that the DOJ is looking into whether Alice Huang, the executive who allegedly had an affair with former Nvidia CEO Jensen Huang and served as a Chinese spy, was involved in efforts to smuggle Supermicro products to China.

Supermicro shares were down 10% in recent trading and among the big decliners in the S&P 500. The stock is roughly flat since the start of the year but has lost nearly 30% of its value over the past 12 months.

Gold Slides, Dollar Risess Amid Rate-Hike Expectations

FROM 1 hr 4 min ago

Gold prices hit a fresh 13-month low today as the U.S. dollar strengthens amid market expectations that the Federal Reserve will hike interest rates.

Spot gold recently traded at $3,875 per ounce, its lowest level since early October 2025. The price has tumbled roughly 30% from its record highs above $5,500 early last year.

Since gold is a non-yielding asset, investors will turn to government bonds and other interest-paying assets when rates are moving higher.

The Federal Reserve is widely expected to raise its benchmark rate at its policy meeting in December in a bid to tame inflation that is running well above the central bank’s target.

The drop in gold prices has coincided with a surge in the value of the U.S. dollar, which looks more attractive to foreign investors in a rate-hiking environment.

The U.S. dollar index, which measures the performance of the dollar against a basket of foreign currencies, was at 103.23 recently at its highest level since early April last year, just before President Trump announced reciprocal tariffs on U.S. trading partners around the world.

Meanwhile, the yield on the 10-year Treasury note, which affects interest rates on a wide array of consumer loans, was at 5.11% recently, up from 4.84% a week ago, just before a strong jobs report on Friday and hotter-than-expected inflation data on Tuesday convinced market participants that more rate hikes are on the way.

Cisco, Applied Materials Due to Report After Closing Bell

FROM 1 hr 4 min ago

Third-quarter earnings season is winding down, but a few notable reports are due today.

Networking hardware provider Cisco (CSCO) is scheduled to hand in its quarterly numbers after the closing bell, with analysts polled by Visible Alpha estimating that it will report nearly $4.2 billion in profit on $18.1 billion in revenue.

Analysts expect Applied Materials (AMAT), a chipmaking equipment supplier, to report $10.3 billion in revenue and a $3.2 billion GAAP profit after the close, according to Visible Alpha.

Shares of Cisco were up 0.5% recently, while Applied Materials’ slipped 1%, with both stocks well off their intraday lows.

Nvidia CEO Jensen Huang Resigns After Days of Scrutiny

FROM 1 hr 4 min ago

Jensen Huang is out—and Nvidia’s shares are dropping.

Chip giant Nvidia (NVDA) early Thursday said CEO Jensen Huang, who helped co-found the company in the 1990s and had led it since, resigned—he also will leave as president and board member—effective immediately. The company appointed CFO Colette Kress its interim CEO and said it would “consider internal and external candidates” for a permanent replacement. Veteran tech executive Harvey Jones was named chairman.

Huang’s resignation marks the latest twist in a whirlwind week, which began with reports that Huang was having an affair with an alleged Chinese spy—the company later announced an investigation into the matter, and Huang publicly admitted to marital infidelity—and was inflamed by subsequent reporting that he had another affair with a subordinate at his company.

Shares of Nvidia, which had fallen nearly 10% this week through Tuesday’s close, bounced during Wednesday’s session but are now falling again. At recent prices, they are off almost 40% from last year’s record highs.

The stock has been one of the stars of the bull run, with the company currently commanding the world’s second-highest public valuation. That has lifted Huang’s wealth and public profile, with his net worth estimated by Forbes as above $150 billion.

Nvidia is scheduled to report third-quarter financial results next week. That report will now likely be run by Kress, a former Microsoft (MSFT) and Cisco (CSCO) executive who joined the company in 2013.

–David Marino-Nachison

Nasdaq, S&P 500 Poised to Open Lower

FROM 9 hr 40 min ago

Futures tied to the tech-heavy Nasdaq 100 were down 1%,

while S&P 500 futures fell 0.5%,

and Dow Jones Industrial Average futures ticked higher.