Nasdaq Falls Over 100 Points; Nvidia CEO Jensen Huang Resigns

U.S. stocks traded mostly lower this morning, with the Nasdaq Composite falling over 100 points on Thursday.

Following the market opening Thursday, the Dow traded up 0.01% to 52,492.99 while the NASDAQ dipped 0.55% to 25,326.03. The S&P 500 also fell, dropping, 0.36% to 7,592.02.

Leading and Lagging Sectors

Consumer discretionary shares jumped by 0.8% on Thursday.

In trading on Thursday, information technology stocks fell 1.6%.

Top Headline

NVIDIA Corp. (NASDAQ:NVDA) said Thursday Jensen Huang has resigned as president, chief executive officer and a member of the board, effective immediately.

Colette Kress, executive vice president and chief financial officer, will serve as interim CEO, the company said in a press release.

Equities Trading UP
           

• Phaos Technlgy Hldngs (Cayman) Limited (NYSE:POAS) shares shot up 367% to $4.21 after gaining over 15% on Wednesday.
• Shares of Children’s Place Inc (NASDAQ:PLCE) got a boost, surging 333% to $0.86 after gaining 11% on Wednesday. According to a Monday Securities and Exchange Commission filing, the company filed for Chapter 11 protection on Nov. 8 in the U.S. Bankruptcy Court for the District of New Jersey.
• Banzai International Inc (NASDAQ:PARA) shares were also up, gaining 112% to $0.15. The company announced that it deployed the $12.1 million proceeds from its recently closed public offering to pay off $11.6 million in debt obligations ahead of schedule.

Equities Trading DOWN

• Cardinal Infrastructure Group Inc (NASDAQ:CDNL) shares dipped 62% to $5.74 after the company reported third-quarter results and announced a stock buyback of up to $50 million.
• Shares of VisionWave Holdings Inc (NASDAQ:VWAV) were down 56% to $0.46 after the company signed a non-binding LoI to acquire 51% of Ukrainian UAS maker EPSERVICE for $7 million in cash.
• SMX (Security Matters) Public Limited Company (NASDAQ:SMX) was down, falling 37% to $7.16.

Commodities 

In commodity news, oil traded up 0.1% to $86.58 while gold traded down 2.3% at $3,910.40.

Silver traded down 3.1% to $50.425 on Thursday, while copper fell 1.6% to $6.1910.

Euro zone

European shares were mostly higher today. The eurozone’s STOXX 600 gained 0.1%, while Spain’s IBEX 35 Index slipped 0.1%, London’s FTSE 100 rose 0.1%, Germany’s DAX climbed 0.4%, while France’s CAC 40 surged 0.4%.

Asia Pacific Markets

Asian markets closed mostly lower on Thursday, with Japan’s Nikkei 225 falling 0.70%, Hong Kong’s Hang Seng index falling 1.26%, China’s SSE Composite Index dipping 0.67% and India’s BSE Sensex gaining 0.04%.

Economics

U.S. initial jobless claims increased by 9,000 to 200,000 in the week ending Nov. 7, compared to market estimates of 195,000.

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