Dow Falls 171 Points as Nvidia Drops 4% on CEO Scandal

The Dow Jones Industrial Average opened higher but turned lower on November 13, trading down 171.02 points at 52,126.07 by mid-morning, briefly falling over 200 points as semiconductor stocks were sold off. Nvidia shares dropped about 4% after CEO Jensen Huang resigned on November 12 amid multiple infidelity allegations, including involving a woman allegedly linked to Chinese intelligence. Concerns over tightened China export restrictions also pressured the stock, with selling spreading to Micron, Intel, AMD, and Broadcom. Persistent Federal Reserve rate hike expectations capped gains, though October PPI rose 0.3%, below forecasts, offering some relief. Microsoft weighed on the index following a major Microsoft 365 outage, while Cisco fell despite strong earnings due to margin concerns. P&G, Walmart, and Visa advanced.