Nvidia, Oil Prices Weigh on Wall Street11/12 09:33

   Big swings for Nvidia's stock price and oil prices are weighing on Wall 
Street Thursday, but the U.S. market appears to be absorbing them.

   NEW YORK (AP) -- Big swings for Nvidia's stock price and oil prices are 
weighing on Wall Street Thursday, but the U.S. market appears to be absorbing 
them.

   After falling nearly 1% at the start of trading, the S&P 500 quickly pared 
its drop to 0.4%. The Dow Jones Industrial Average was down 50 points, or 0.1%, 
as of 10:15 a.m. Eastern time, while the Nasdaq composite was down 0.6% after 
trimming its early loss of 1.6%.

   At the center of the action was Nvidia's stock. It plunged as much as 14% at 
the start of trading following the resignation of Jensen Huang, its CEO, 
co-founder and face of the brand. The chip company's stock has been sinking 
since its board announced an investigation into Huang for a relationship with a 
woman suspected of being a Chinese government agent.

   It's a stunning fall for Huang and for Nvidia, which had become Wall 
Street's most valuable and influential stock because of its central role in the 
artificial-intelligence boom. Its stock price set a record last month after 
soaring an astounding 1,722% in four years. That compares with the already 
healthy gain of nearly 109% for the overall S&P 500 over the same time.

   But Nvidia's price dropped 27% from then through Wednesday on worries about 
whether Huang would remain and how Nvidia would navigate a future without him. 
Nvidia's board answered the first question Thursday morning, when it said Huang 
resigned, and it named Chief Financial Officer Colette Kress as its interim CEO.

   The second question remains to be determined. And it looms over the entire 
market because Nvidia and the broader AI industry have been the main reasons 
the U.S. stock market has set so many records in recent years.

   Nvidia, to be sure, is still selling AI chips at a quick rate regardless of 
who stands on a stage and talks them up. Nvidia quickly halved its early loss 
from Thursday, and its stock was most recently down 6.1%.

   Outside of Nvidia, other stocks across the AI industry swung in the 
uncertainty.

   CoreWeave, which buys Nvidia chips and then rents out access to them to 
customers over the cloud, fell 9%. Micron Technology, which sells memory for 
computers that's been getting gobbled up in the AI frenzy, sank 4.9%.

   But Broadcom rose 5.3%, and Advanced Micro Devices added 1.8% on hopes for a 
competitive advantage. The rival chip companies to Nvidia were two of the 
strongest forces limiting the S&P 500's losses.

   GE Vernova, which is helping to power AI data centers, flipped from a loss 
of 3% to a gain of 1%.

   Also swinging on Thursday were oil prices after President Donald Trump said 
he's no longer interested in a deal with Iran to end their war. Instead of 
that, Trump said he asked his vice president to focus on investigating U.S. 
cities and states run by Democrats.

   "We don't need a deal with Iran," Trump said on his social-media platform. 
"Those days have long since passed. We've got their money, Hundreds of Billions 
of Dollars, and we've got their Strait!"

   The price for a barrel of Brent crude oil suddenly went from about $92 to 
more than $94 following Trump's posting, before it later eased back. It was 
most recently at $93.79, up 1.1%.

   It's been veering sharply since the United States and Israel began the war 
with Iran in late February, bouncing between roughly $70 and $150.

   Higher oil prices push up worries about inflation, and the yield on the 
10-year Treasury climbed to 5.07% from 4.98% late Tuesday. Trading in the bond 
market had been closed Wednesday for Veterans Day.

   In stock markets abroad, indexes were mixed in Europe following a weaker 
finish in Asia.

   Hong Kong's Hang Seng fell 1.3% for one of the world's biggest moves.