U.S. stocks close lower as Nvidia CEO exit rattles AI trade
NEW YORK, Nov. 13 -- U.S. stocks ended slightly lower Thursday as the resignation of Nvidia CEO Jensen Huang shook confidence in the artificial intelligence trade.
The Dow Jones Industrial Average fell 189.4 points, or 0.36 percent, to 52,297.09. The S&P 500 lost 26.98 points, or 0.35 percent, to 7,592.4. The Nasdaq Composite Index dropped 100.1 points, or 0.39 percent, to 25,366.09.
Nvidia announced that Huang had resigned as president, CEO and board member, effective immediately, and named chief financial officer Colette Kress as interim CEO. Nvidia fell 4.34 percent to 166.19 U.S. dollars, after plunging as much as 14 percent at the open. Nvidia is due to report quarterly results next Tuesday.
Not every chip stock followed Nvidia lo...
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