The S&P 500 and Nasdaq experienced declines on Friday, primarily driven by concerns surrounding Nvidia and CEO Jensen Huang’s resignation. The tech sector faced increased pressure, particularly the Philadelphia Semiconductor Index, which fell significantly. Although inflation data suggested a slightly lower increase, expectations for further Federal Reserve rate hikes remained unchanged. Major technology companies, including Advanced Micro Devices and Broadcom, contributed to the losses in the sector.
Fed officials signal further rate hikes as inflation remains elevated
Federal Reserve officials are signaling further interest-rate increases to combat persistent inflation pressures in the economy. San Francisco Fed President Mary Daly expressed concerns about
November 13, 2026