Asian Stocks Steady as Nvidia CEO Resigns; Dollar Gains on Rate Hike Bets

Asian stocks steadied Friday after Nvidia CEO Jensen Huang resigned Thursday following revelations of extramarital affairs, including one involving a suspected Chinese spy, dealing a blow to the global AI industry. US Treasury yields climbed, lifting the dollar as investors priced in a possible 50-basis-point Federal Reserve rate hike. Huang's exit raises uncertainty over US chip export policy and AI supply chains, given his role in preserving Chinese market access and ties with President Donald Trump. JPMorgan analysts said new deals could face delays, while Senate Banking Committee Chairman Tim Scott requested testimony from Huang and Commerce Secretary Howard Lutnick. The 2-year Treasury yield hit a one-month high at 4.8920%, with markets seeing a 14.5% chance of a jumbo Fed hike in December. The dollar was set for its biggest weekly gain in over a month, while copper prices hit a four-month low on AI demand fears.