Nvidia Shares Rebound From 14% Drop as Major US Indexes Turn Higher

Nvidia shares fell as much as 14% Thursday after news circulated that CEO Jensen Huang had resigned, then pared losses as the Dow, S&P 500 and Nasdaq turned higher by late morning.

The stock later recovered part of its drop. Around midday, Nvidia was down between 4.5% and 5.7%. The Dow Jones Industrial Average was up about 0.4%, the S&P 500 had gained about 0.1% and the Nasdaq Composite was near flat.

The Dow had earlier climbed about 250 points, or 0.5%, while the S&P 500 and Nasdaq had risen as much as 0.4% and 0.5%, respectively. At 12:26 p.m. ET, the Dow stood near 52,693, up 206 points, or 0.39%. The S&P 500 was near 7,628 and the Nasdaq near 25,456.

Chipmakers moved in different directions. Advanced Micro Devices rose, while Intel fell about 1.7% and Micron also declined. Nvidia’s central role in the AI investment boom has made its shares a closely watched part of the broader market’s AI trade.