Concerns over Nvidia CEO Jensen Huang’s possible departure triggered a wave of selling across global equity markets. Nvidia shares dropped by as much as 10% during late trading in the United States, weighing on major technology indexes and futures.
Global tech sector faces pressure after Nvidia move
Nasdaq 100 futures slid by 1.2%, while S&P 500 futures lost 0.5%, erasing a portion of Wednesday’s gains. The uncertainty around Nvidia—a leading American semiconductor company credited with driving recent advances in artificial intelligence—sparked broader caution among investors.
In Asia, the MSCI Asia Pacific Index lost 0.9%, ending a three-day winning streak. Taiwan’s tech-focused equity index experienced an even steeper drop of 2.6%, reflecting intensified selling pressure among technology shares.
Analysts observed that losses in technology stocks across Asia mirrored the sharp reaction in US markets. The outsized fall in the Taiwan index—the region’s main barometer for semiconductors and consumer electronics—highlighted ongoing sensitivity to developments involving Nvidia.
Nvidia initiates CEO succession search
Sources familiar with the situation stated that Nvidia has started working with a third-party firm to identify potential successors for CEO Jensen Huang. The effort reportedly follows media reports involving allegations of multiple extramarital affairs connected to Huang, and claims that one woman linked to him has come under suspicion of espionage for the Chinese government.
Nvidia remains at the forefront of global semiconductor supply, with its advanced hardware and software underpinning growth in AI, gaming, and data centers. Huang, noted for co-founding the company and leading it since its inception, has played a central role in Nvidia’s rapid ascent in recent years.
Mini dictionary: Nvidia is a US-based technology company specializing in the design and manufacture of graphics processing units (GPUs) and system-on-chip hardware, widely used for gaming, artificial intelligence applications, and professional visualization.
Bond and commodity reactions to market jitters
With the US bond market reopening after the Veterans Day holiday, investors sought safe havens amid the growing uncertainty. Long-dated US Treasuries strengthened, with 30-year yields falling by 2 basis points to 5.33%, while 10-year yields held steady at 4.99%.
Indonesia’s central bank intervened to support the rupiah after the currency hit an all-time low, while the Japanese yen traded close to 160 per dollar.
On the commodity front, Brent crude oil slipped below $92 per barrel, nearing a two-month low following a 1.4% rise on Wednesday. Analysts attributed the pressure to increasing production in the Middle East and a muted conflict between the United States and Iran. Gold extended its decline after US inflation data exceeded market expectations and Federal Reserve officials issued more hawkish comments.
Losses in Nasdaq 100 futures outpaced those in S&P 500 futures, underlining the heavier impact within tech-focused indexes. The 2.6% plunge in Taiwan’s equity benchmark also signaled how current uncertainty around Nvidia reverberates across technology-sensitive markets.
| Market | Movement/Change | Reference/Note |
|---|---|---|
| Nvidia shares | -10% | Intraday low during late US trading |
| Nasdaq 100 futures | -1.2% | Erased part of previous gains |
| S&P 500 futures | -0.5% | Partial pullback after gains |
| MSCI Asia Pacific Index | -0.9% | First decline after 3 days of gains |
| Taiwan index | -2.6% | Focused on technology sector |
| 30-year US Treasury yield | 5.33% | Down 2 basis points |
| Brent oil | <$92/barrel | Approaching 2-month lows |
