Seoul shares drop nearly 1 pct, erasing earlier gains following Nvidia jitters

South Korean stocks fell almost 1 percent on Friday as investors turned cautious over the potential impact of Nvidia CEO Jensen Huang's departure on the artificial intelligence ecosystem. The local currency was trading higher against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) closed down 52.20 points, or 0.98 percent, at 5,290.53. The index opened 2.05 percent higher and rose as high as 5,504.44 before shifting to negative territory around 12:35 p.m. Overnight on Wall Street, major stock indices closed lower following the exit of Huang, who played a crucial role in the recent AI boom. Investors were also awaiting the release of U.S. producer price data, which could give a clue to the Federal Reserve's monetary policy, following the steeper-than-expected rise in the consumer price index earlier this week.

• ?What specific impact will Jensen Huang's departure have on the AI ecosystem?
• ?What were the exact results of the U.S. producer price data release?
• ?How will the Federal Reserve's monetary policy respond to the steeper-than-expected rise in the consumer price index?