US stocks slip as chipmaker loses 4% after chief’s exit and Treasury yields rise

US stocks closed lower on Thursday, 12 November. The S&P 500 fell 0.36% to 7,592.40, the Dow Jones Industrial Average lost 0.36% to 52,297.09 and the tech-heavy Nasdaq Composite slipped 0.39% to 25,366.09, market data showed.

Investors were cautious because of rising US government bond yields and the departure of Nvidia chief executive Jensen Huang, the Latvian investment site Investoru Klubs reported. The yield on 10-year Treasury notes rose from 5.0% to 5.1% during the day.

Shares fall after chief’s exit

Nvidia shares, which fell about 14% to $148.80 during the day after news of the chief executive’s resignation, closed 4.3% lower at $166.19. Rival AMD moved the other way, rising 5.9% to $585.30.

S Ziņas reported the leadership change at Nvidia and the appointment of Colette Kress as interim chief executive on Thursday.

Oil rises again

Oil prices rose again on Thursday after falling earlier in the week: Brent crude futures gained 3.3% to $95.82 a barrel. In Asian trading on Friday morning Brent was holding at around $95.50.