A recap of a week when so much happened that it's worth a recap :) Nvidia $NVDA has just had one of the worst weeks in its history. Its shares lost nearly $600 billion in market value, the company lost CEO Jensen Huang, and it plunged into a deep correction. The indexes, meanwhile, ended the week in positive territory. But let's take it step by step.
It all started on Sunday. Huang commented then on an extramarital affair with a woman believed to be a Chinese spy. Nvidia fell on Monday, but the rest of the market remained calm. Oil prices dropped, the Dow Jones gained more than 1,100 points, and the S&P 500 had its best day since April.
On Tuesday, October inflation came in above expectations, cooling sentiment, and bets on a December rate hike jumped above 80 %.
On Wednesday, artificial intelligence lifted the market. $CRWV gained about 25 % and $AAPL climbed to a new record. But that evening, the Wall Street Journal reported that the board wanted to remove Huang.
Huang resigned on Thursday, Nvidia shares plunged by as much as 14 %, and the company's value fell below $4 trillion for the first time since 2025.
On Friday, wholesale inflation jumped to 6.5 %, its highest level since 2022, and $AMD lost nearly 9 %.
For the week as a whole, the S&P 500 gained 2.5 % and the Nasdaq 2.3 %.