Nasdaq Falls Amid Nvidia Leadership Changes and Rising Treasury Yields
U.S. equity markets faced significant downward pressure on Friday, November 13, as the Nasdaq Composite dropped over 1.4% and the S&P 500 declined nearly 1%. The sell-off was primarily driven by uncertainty in the semiconductor sector following the resignation of Nvidia CEO Jensen Huang, which triggered a wider decline across AI-related stocks including AMD. Compounding the equity weakness, the benchmark 10-year Treasury yield climbed to 5.10%, increasing pressure on high-growth technology valuations due to rising borrowing costs. While defensive sectors and select fintech companies like Nu Holdings showed resilience, the broader market trend reflected a rotation away from capital-intensive growth stocks toward more stable assets.