New York stock market starts off mixed amid resignation of Nvidia CEO Jensen Huang

(Seoul = Yonhap News) Reporter Jeong-won Yoon, Yonhap Infomax = The three major stock indices of the New York Stock Exchange started off mixed as they digested the news of the resignation of Nvidia CEO Jensen Hwang.

As of 9:48 a.m. on the 12th (local time), the Dow Jones Industrial Average on the New York Stock Exchange recorded 52,519.71, up 33.22 points (0.06%) from the previous day. The Standard & Poor's (S&P) 500 index was down 18.24 points (0.24%) from the previous day to 7,601.14, and the Nasdaq composite index was down 119.09 points (0.47%) from the previous day to 25,347.10.

NVIDIA's board of directors announced that NVIDIA CEO Jensen Huang resigned from his position as CEO and board member effective immediately.

Colette Kress, currently Executive Vice President and Chief Financial Officer (CFO), will serve as interim CEO.

Previously, CEO Hwang admitted to having an affair with Alice Hwang, a woman who was pointed out as a Chinese spy, and it was also reported that he later had an extramarital affair with a female executive directly under the company.

US President Donald Trump's decision to draw a line saying there is no need for an agreement with Iran also put pressure on investor sentiment.

On this day, President Trump said through his social media platform, Truth Social, "We do not need to reach an agreement with Iran. Those days are long gone."

He added, “We are securing hundreds of billions of dollars of their money, and we are also controlling their strait (Strait of Hormuz).”

Robert Pavlik, senior portfolio manager at Dakota Wealth, said of Hwang's departure, "It could leave a void in the C-suite, and we will need to find a successor who will make the market feel comfortable about the company's leadership and the direction the company is going."

Looking at each industry, consumer discretionary goods and energy showed strength, while technology and materials showed weakness.

Neocloud company Nevius' stock price fell 16.43% after announcing its third quarter earnings. This was influenced by the fact that Nevius announced in its earnings announcement that its sales guidance for fiscal 2026 would be at the lower end of the $3 billion to $3.4 billion range previously proposed by the company.

Strategy's stock price fell 7.72% after MSCI announced that it would exclude the stock from its global index.

AMD's stock price rose 2.56% thanks to William Blair's increase in investment opinion from market rate of return to above market rate of return. William Blair assessed that AMD's Instinct, a dedicated AI graphics processing unit (GPU) product line, is poised to expand its market share while Nvidia, AMD's biggest competitor, is struggling.

European stock markets all showed an upward trend.

The Euro STOXX 50 index is trading at 6,398.13, up 0.07% from the previous day. Germany's DAX index and Britain's FTSE 100 index rose 0.36% and 0.14%, respectively, and France's CAC40 index rose 0.45%.

International oil prices fell.

At the same time, the price of West Texas Intermediate (WTI) crude oil for delivery in December 2026, a nearby contract, is recording $86.48 per barrel, down 0.06% from the previous price.