Nvidia faces record $2 trillion market cap wipeout after CEO resignation

Nvidia is poised for the largest one-day market value loss in stock market history after CEO Jensen Huang resigned, causing its valuation to fall below $4 trillion and trail Apple and Microsoft. The stock dropped to its lowest level since June 2025, with shares down about 35% from an early October record, erasing $2 trillion in value. CFO Colette Kress is interim CEO, and Harvey C. Jones will lead the search for a permanent replacement. Huang's resignation follows reports of extramarital affairs, including one with Alice Huang, a former executive at a major Nvidia customer suspected by U.S. intelligence of being a Beijing agent. At least seven Wall Street firms downgraded the stock, with Nvidia's earnings report still scheduled for Nov. 17.