Nvidia loses nearly $500 billion in market value after CEO Huang affair reports

Nvidia shares have plunged over 10 percent this week, erasing nearly $500 billion in market value following reports of CEO Jensen Huang's affair with a woman allegedly linked to Chinese intelligence and smuggling $7.5 billion in processors to China. The scandal has triggered an independent board investigation and raised concerns about access to confidential information, China business security, and the reputation of the AI chip giant. Huang has apologized, while shares now sit at $168, over 30 percent below their record high. US stocks also fell Tuesday after October inflation exceeded forecasts, with the CPI rising 0.4 percent monthly. Gold dropped nearly 3 percent, bitcoin hit an 11-week low, and a December Fed rate hike now appears likely.