Nvidia shares plummeted 9%. The rest of the market rallied: the Nasdaq 100 gained more than 2%

Shares of Nvidia, a manufacturer of artificial intelligence processors, plummeted 8.8% at the very start of trading on November 9 due to a scandal involving the company’s CEO, Jensen Huang: he admitted to having an extramarital affair with a woman whom U.S. authorities suspect of collaborating with Chinese intelligence. Nvidia has launched an internal investigation to determine whether Huang has been targeted by foreign intelligence services. It remains to be seen whether Huang will retain leadership of the company he founded.

Nvidia's decline did not dampen overall market sentiment, which returned to buying after a record-volume sell-off on Thursday, November 5.

In the first few minutes after the market opened on November 9, the Nasdaq 100 Index—composed primarily of tech giants—rose by more than 2%. The Nasdaq Composite gained 1.9%, while the broad-market S&P 500 index rose 1.6% and the Dow Jones Industrial Average rose 1.4%.

This news story is being updated...

This article was AI-translated and verified by a human editor